UNCTAD – International Trade, 2023

Global trade has been volatile since the COVID-19 pandemic began, with fragmented and heterogeneous trade performance seen in the rebound of 2021 and 2022 and the recent slowdown. It is uncertain if this trend signifies a departure from established trade patterns or if it is due to COVID-19 disruptions leading to systemic changes fueled by geopolitical issues and risk-mitigation strategies. This convergence of factors suggests that global trade may be undergoing significant changes, presenting new challenges and opportunities for economies worldwide. Monitoring these developments is crucial for understanding the implications for developing countries. The report is divided into two parts. The first provides a short-term overview of international trade using preliminary statistics up to the first half of 2023, while the second part offers illustrative statistics on trade in goods and services in the medium term. The second part includes sections on trade evolution across economic sectors and regions, as well as trade indicators at the country level.