<\/p>\n
Global trade reached a record high of $33 trillion in 2024, marking a 3.7 percent increase from the previous year, driven by an uptick in the services sector.\u00a0<\/span><\/p>\n According to the latest Global Trade Update from the UN Conference on Trade and Development, services drove growth, rising 9 percent for the year and adding $700 billion \u2014 nearly 60 percent of total exchange expansion.\u00a0<\/span><\/p>\n Meanwhile, trade in goods grew 2 percent, contributing $500 billion.\u00a0<\/span><\/p>\n \u201cThis positive momentum is expected to continue into Q1 (first quarter) 2025, building on a global trade value of nearly $33 trillion in 2024,\u201d the report said.\u00a0<\/span><\/p>\n UNCTAD\u2019s analysis highlighted a continued shift in global trade dynamics, with developing countries \u2014 particularly China and India \u2014 outperforming their developed counterparts.\u00a0<\/span><\/p>\n While many advanced economies faced exchange contractions, emerging markets sustained momentum, bolstered by strong exports and domestic demand.\u00a0<\/span><\/p>\n China\u2019s trade surplus expanded significantly in 2024, fueled by robust exports. Meanwhile, the US trade deficit widened, reflecting its growing reliance on imports. South-South trade, involving exchanges between developing economies, remained a key driver of global trade growth.<\/p>\n Services trade outpaced goods trade in 2024, increasing by 9 percent and contributing approximately $700 billion to global exchange expansion. This sector\u2019s resilience contrasts with goods trade, which rose by just 2 percent, adding around $500 billion. The fourth quarter saw services trade maintain strong momentum, while goods trade growth decelerated.\u00a0<\/span><\/p>\n Despite overall growth, UNCTAD warns of significant trade barriers. High tariffs continue to hinder market access for developing countries, particularly in agriculture and manufacturing. \u00a0<\/span><\/p>\n \u201cHigh import tariffs raise costs for businesses and consumers, potentially curbing growth and competitiveness,\u201d the report said.\u00a0<\/span><\/p>\n It added that tariff escalation \u2014 where higher duties are imposed on processed goods than raw materials \u2014 remains a major obstacle to industrialization in developing economies.\u00a0<\/span><\/p>\n Agricultural exports from developing countries still face steep import duties, averaging nearly 20 percent under most-favored-nation treatment. Meanwhile, textile and apparel exports continue to be subjected to some of the highest tariff rates, limiting competitiveness.\u00a0<\/span><\/p>\n Looking ahead, UNCTAD warned that mounting geopolitical tensions, trade disputes, and protectionist policies could disrupt global exchange in 2025. The report identified several risk factors, including:\u00a0<\/span><\/p>\n Shifts in trade policy: Increasing protectionist measures, such as new tariffs targeting specific industries, may reshape global supply chains.\u00a0<\/span><\/p>\n Ongoing trade tensions: Major economies, including the US and China, continue to impose retaliatory tariffs, affecting global trade flows.\u00a0<\/span><\/p>\n Subsidies and industrial policies: Governments are prioritizing national industries, particularly green energy and critical minerals, which could impact international trade relations.\u00a0<\/span><\/p>\n Economic slowdown risks: Indicators such as declining demand for container shipping suggest potential trade contraction in the coming quarters.\u00a0<\/span><\/p>\n However, the analysis also noted potential tailwinds, including China\u2019s planned economic stimulus and the expected easing of global inflation, which could support trade expansion.\u00a0<\/span><\/p>\n Trade growth varied significantly across sectors in 2024. Office equipment and pharmaceuticals saw above-average growth, while the energy sector faced a sharp decline. In the third quarter, agri-food, communication equipment, and transport surged, whereas apparel and extractive industries weakened.\u00a0<\/span><\/p>\n The report highlighted growing trade imbalances, with the US maintaining the world\u2019s largest trade deficit and China recording the highest surplus. The EU, which ran a deficit in previous years, returned to surplus in 2024, aided by shifts in energy trade. \u00a0<\/span><\/p>\n Bilateral trade imbalances, particularly between the US and China, remain significant, contributing to global economic uncertainty.\u00a0<\/span><\/p>\n As global trade enters 2025, policymakers face the challenge of balancing growth with rising protectionism. UNCTAD emphasized the importance of multilateral cooperation and strategic trade policies to sustain momentum and navigate emerging risks.\u00a0<\/span><\/p>\n <\/p>","protected":false},"excerpt":{"rendered":" Global trade reached a record high of $33 trillion in 2024, marking a 3.7 percent increase from the previous year, driven by an uptick in the services sector.\u00a0 According to the latest Global Trade Update from the UN Conference on Trade and Development, services drove growth, rising 9 percent for the year and adding $700 […]<\/p>\n","protected":false},"author":1,"featured_media":3619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3618","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bez-rubriki"],"featured_image_src":{"landsacpe":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/03\/Trade-33-1024x445.jpg",1024,445,true],"list":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/03\/Trade-33-463x348.jpg",463,348,true],"medium":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/03\/Trade-33-300x198.jpg",300,198,true],"full":["https:\/\/relinvestmentsgroup.com\/wp-content\/uploads\/2025\/03\/Trade-33.jpg",1024,677,false]},"_links":{"self":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/3618","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/comments?post=3618"}],"version-history":[{"count":1,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/3618\/revisions"}],"predecessor-version":[{"id":3620,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/posts\/3618\/revisions\/3620"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media\/3619"}],"wp:attachment":[{"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/media?parent=3618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/categories?post=3618"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/relinvestmentsgroup.com\/en\/wp-json\/wp\/v2\/tags?post=3618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}