The United Nations Conference on Trade and Development (UNCTAD) revealed in its latest assessment that global trade began 2025 on a stable footing, but challenges are mounting due to the protectionist sentiment sparked by US President Donald Trump.
According to UNCTAD, 2024 will witness a record expansion in global trade, reaching $33 trillion, an increase of 3.7 percent over 2023, driven by developing economies and strong trade in services.
The organization's report, which included the latest developments in global trade through early March, indicated that, looking ahead, new risks loom, including trade imbalances, evolving policies, and geopolitical tensions.
Source: Al-Arab newspaper, London, edited
