UNCTAD: Global trade volume reaches $13.7 trillion in the first half of 2026
Global trade continued its expansion during the first half of 2026, recording strong growth in the trade of goods and services, despite mounting price pressures and rising energy and transport costs.
A report issued by the United Nations Conference on Trade and Development (UNCTAD) on global trade stated that the value of global goods trade reached approximately $13.7 trillion during the first half of 2026, an increase of 12.5 percent compared to the same period in 2025, while services trade rose by 10.5 percent.
The report added that the combined trade in goods and services added approximately $2 trillion to the value of global trade, putting it on track to record an annual all-time high.
The report noted that a significant portion of the increase in the value of global trade was due to rising prices rather than solely to growth in the volume of goods traded. It explained that disruptions in shipping movements through the Strait of Hormuz, along with concerns regarding energy supplies, had driven up energy, transport, logistics, and production costs.
Prices of globally traded goods rose by approximately 3.6 percent during the first quarter of 2026, with estimates suggesting a further increase of about 5 percent in the second quarter, primarily driven by higher energy prices and some commodities. Global trade price inflation recorded growth of 3.6 percent in the first quarter and 5.1 percent in the second quarter.
The report indicated that goods trade outperformed services trade during the first half of 2026, driven by improved global demand for technological and industrial products. Goods trade rose by 6.4 percent during the second quarter of 2026, compared to more modest growth in services trade.
The report confirmed that East Asia was the main driver of global trade growth during the first quarter of 2026, supported by strong exports and imports in China and South Korea.
Emerging economies recorded growth in both exports and imports of 7 percent each during the first quarter, while trade in emerging economies rose by 10 percent for exports and 11 percent for imports over the last four quarters.
In industrial sectors, rising demand for artificial intelligence infrastructure, digital technologies, and electric vehicles boosted trade in high-tech goods. Trade in critical metals grew by 38 percent, semiconductors by 25 percent, batteries by 15 percent, information and communication technology products by 14 percent, and electric vehicles by 11 percent during the first quarter.
Conversely, trade in some traditional sectors declined, including chemicals, iron and steel, and certain renewable energy products, while trade in fossil fuels rose primarily due to the impact of higher prices.
The report clarified that energy trade recorded quarterly growth of 9 percent during the first quarter. Crude oil trade rose by 9 percent on a quarterly basis, while falling by 10 percent on an annual basis. Liquefied natural gas (LNG) trade increased by 6 percent quarterly and 2 percent annually.
