Global goods trade on track for gradual recovery despite lingering downside risks

Global goods trade is projected to post a 2.7% increase in 2024, up slightly from the previous estimate of 2.6%, WTO economists said in an updated forecast on 10 October. The volume of world merchandise trade is likely to increase by 3.0% in 2025; however, rising geopolitical tensions and increased economic policy uncertainty continue to pose substantial downside risks to the forecast. Services trade has a more favourable outlook compared to goods according to leading indicators.