UNCTAD – Global Trade Endures Policy Changes and Geoeconomic Risks

Global trade continued to grow at a slow pace in the first quarter of 2025 and likely increased in the second quarter, with a potential increase of USD 300 billion in the first half of 2025.

Trade in developed countries increased more than in developing ones, thanks to significant import growth in the United States and export growth in the European Union. Trade imbalances continued to widen, with a growing deficit in the United States and increasing surpluses in China and the European Union. Ongoing policy uncertainty and persistent geopolitical tensions will put pressure on global trade in the coming months.