1、Global trade endures policy changes and geoeconomic risksFacts and figuresMonthly publication analysing trade policy and global trade dataJULY 2 0 2 5Global tradeupdate Global trade continued to expand at a slower rate in Q1 2025 and likely rose further in Q2,potentially increasing by US$300 billion

2、 in the first half of 2025.Developed countries trade increased more than developing countries in Q1 2025 driven by strong United States import growth and European Union exports.Trade imbalances continued to widen in Q1 2025,with an increasing United States deficit and rising surpluses in China and t

3、he European Union.Continued policy uncertainty and persistent geopolitical tensions are set to pressure global trade in the months ahead.United States leads global trade growth while many developing nationslag behind in Q1 2025Annual and quarterly trade growth relative to global averagesSource:UNCTA

4、D calculations based on national statistics.Note:Deteriorating and improving trends are calculated as the QoQ growth in Q1 2025 of seasonally adjusted values.Worse and better than averages are calculated on the annual growth over the past four quarters.All statistics are rescaled relative to global

5、averages.Trade growth is measured by the growth in imports plus exports.Data exclude services.HIGHLIGHTSLDCsBrazilChinaDevelopedDevelopingEuropeanUnionIndiaUnitedStatesSouthAfricaBetterthanaverageWorsethanaverageImprovingDeteriorating 2JULY 2025Global tradeupdateFacts and figures2019 Q12020 Q12021 Q

6、12022 Q12023 Q12024 Q12025 Q1-30-20-10102030Quarterly servicesAnnual servicesQuarterly goodsAnnual goodsEstimatesNowcast2019 Q12020 Q12021 Q12022 Q12023 Q12024 Q12025 Q1-10-50510152025QuarterlyAnnualEstimatesNowcastGlobal trade trends and nowcast Global trade in goods and services continued its posi