Global trade is set to reach a record US$33 trillion in 2024, according to UNCTAD, translating to a 3.3% annual growth or a US$1 trillion increase.
Robust growth in services trade, up 7% for the year, accounted for half of the expansion, while goods trade rose 2% but remained below its 2022 peak, said UNCTAD in a release.
According to the report, developing economies, traditionally strong drivers of global trade, faced headwinds in 2024, with imports contracting 1% and South-South trade falling...
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