The global trade landscape in 2024 showcased remarkable resilience, surging to a record $33 trillion, representing a 3.7% growth compared to the previous year, according to the latest Global Trade Update by UN Trade and Development (UNCTAD).
This significant growth, primarily driven by a robust 9% increase in services trade, adding $700 billion – nearly 60% of the total growth – underscores the evolving dynamics of international commerce. While trade demonstrated considerable strength throughout the year, UNCTAD cautions that uncertainty looms on the horizon for 2025. Trade in goods also saw positive momentum, growing by 2% and contributing $500 billion to the overall expansion.
Read more : https://www.m1nxt.com/navigating-the-shifting-tides-of-global-trade-in-2024-opportunities-and-challenges/
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