Despite a good start to 2022 for global trade, its growth turned negative in the last half of the year. However, where trade values went down, volumes continued to grow and environmentally friendly products defied the trend.
UNCTAD’s Global Trade Update provides up-to-date insight on major trends in world trade. Its latest report points to four key findings:
🔹The resilience of global trade in 2022, reaching a record $32 trillion, despite geopolitical tensions
🔹The strong performance of trade in “green goods”, growing by about 4% in the second half of the year and hitting a record $1.9 trillion in 2022
🔹The downturn of global trade in goods during the last quarter of the year, particularly the trade from developing economies
🔹The expected continued stagnation of trade in the first quarter of 2023 with a more positive outlook for the second half of the year
Explore more of the latest world trade trends and data in UNCTAD’s first 2023 edition of the Global Trade Update VIEW ARTICLE