United Nations – Global Trade, Mar 2024

In 2024, global trade is expected to bounce back from the decline seen in 2023, where the overall value of trade fell by 3%. Trade in goods decreased by 5%, but trade in services grew by 8%. Developing countries and South-South trade fared worse than the global average. However, trade in environmental products saw growth, particularly in electric cars, which drove trade growth in motor vehicles. Despite a positive outlook for 2024, uncertainties remain due to geopolitical issues and disruptions in shipping.