Global trade had a record year in 2025, with preliminary data pointing to a 7% increase to exceed $35 trillion for the first time. While growth is expected to remain positive in 2026, the pace will slow.

UN Trade and Development’s first trade report of the year points to a more complex and fragmented global environment. Geopolitical tensions, shifting supply chains, accelerating digital and green transitions and tighter national regulations are reshaping trade flows and global value chains.