Global trade is expected to reach a record $33 trillion in 2024!

2024 12/10

The United Nations Conference on Trade and Development predicts that global trade will reach $33 trillion in 2024, primarily driven by a 7% growth in service trade. Developing economies face pressures of slowing growth, while developed economies show robust performance. Information and communication technology, along with the apparel industry, are emerging as high-growth sectors. Despite traditional industries facing downward pressure, the stable growth of the global economy and easing inflation lay the groundwork for trade resilience in 2025. However, developing economies must navigate uncertainties such as slowing trade growth, escalating trade wars, and geopolitical challenges.