This edition of the Global Trade Update examines the strong but increasingly uneven expansion of international trade in the first half of 2026.
Global goods trade is estimated to have reached approximately US$13.7 trillion in the first half of 2026, up 12.5 % from the same period in 2025. Services trade grew by 10.5 %. Together, goods and services added around US$2 trillion to global trade, putting it on course for a record annual value.
Higher prices inflate trade growth
A significant share of the increase reflects higher prices rather than stronger trade volumes. Disruptions to shipping through the Strait of Hormuz, together with concerns over energy supplies, raised energy, transport, logistics and production costs.
Prices of traded goods increased by about 3.6 % in the first quarter and is estimated to have risen by about 5 % in the second, largely reflecting higher energy and selected commodity prices.
Read the full report here.
