The United Nations Conference on Trade and Development (UNCTAD), belonging to the United Nations Organization, announced that global trade would stabilize starting in 2025, although increasing challenges remain. The organization noted that 2024 has become a record year for global trade, reaching 33 trillion dollars, which is 3.7% more than in 2023, supported by developing economies and strong trade services.
In a report published today in Geneva and containing the latest updates on global trade at the beginning of March this year, it is noted that new risks are emerging on the horizon, including trade imbalances, evolving policies, and geopolitical tensions. The organization warned that protectionism and changes in trade strategies could lead to disruptions in global trade.
It is noted that trade in services remains strong, while trade in goods is facing an uncertain level, and calls for the adoption of balanced policies and multilateral cooperation. Developing economies are slowing growth rates, while Asia and Latin America remain key drivers of global trade.
UNCTAD also emphasized that the encroachment of intraregional trade in Africa is decreasing, reflecting the achievements made, and at the same time, trade between Europe and Central Asia is diminishing, reflecting changes in demand. The organization noted that governments are expanding customs duties, support, and industrial policies, preferring trade policies.
In closing its report, the organization emphasized that the main challenge in 2025 will involve preventing global disintegration, where countries form isolated trading blocs, while maintaining sustainable long-term growth.
