Global Trade Reaches New Heights
Trade in goods totaled almost $25 trillion in 2022 (an increase of about 10% from the year prior), according to the United Nations Conference on Trade and Development (UNCTAD). Trade in services totaled almost $7 trillion (an increase of about 15%). The growth is thanks to a strong start to the year. Trade growth was subdued the latter half of the year. The total value of global trade during 2022 rose 12% to almost $32 trillion.
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