United Nations Conference on Trade and Development (UNCTAD) March 2024 Global Trade Update Report Published

22 March 2024

The Global Trade Update projects that global trade in 2023 will amount to approximately US$ 31 trillion, contracting by close to US$ 1 trillion (or 3 per cent) compared to the record high of 2022. Specifically, trade in goods expected to contract by about US$ 1.3 trillion in 2023, or 5 per cent, while services trade expected to gain about US$ 500 billion, or 8 per cent. The UNCTAD nowcast for Q1 2024 foresees a small but positive increase both in goods and services trade.

Source: UNCTAD
Post by: Republic of Türkiye Ministry of Trade