The Global Value Chain Development Report 2023 explores approaches to building resilient and sustainable Global Value Chains (GVCs) in turbulent times. The report provides an overview of the latest trends in GVCs, assesses the effects of trade tensions and the COVID-19 pandemic on GVCs, and illustrates changes in energy and semiconductor supply chains. It also analyzes the challenges of climate change to GVCs and proposes a framework for greening value chains and policy options for enhancing inclusive development through GVC participation. This report is a product of joint research efforts by the Research Institute for Global Value Chains at the University of International Business and Economics, Asian Development Bank, the Institute of Developing Economies-Japan External Trade Organization, and the World Trade Organization.