Global trade hits record levels but fragility rises, UNCTAD warns

Global trade reached a record $35 trillion in 2025, but underlying fragility is increasing as geopolitical and economic risks intensify, according to UNCTAD (United Nations Conference on Trade and Development).

Trade growth of around 7.5% was driven largely by goods, with services also contributing to overall expansion.

However, the outlook remains uncertain as conflict, supply chain disruption and tightening financial conditions begin to weigh on future growth.

For trade finance providers, the data points to continued demand for working capital and liquidity solutions, but with increasing risk complexity.

The findings reinforce concerns that strong headline growth may mask structural vulnerabilities in global trade systems.