The total value of global goods and services transactions is expected to reach a record of nearly 33,000 billion USD in 2024.

This is the forecast figure of the United Nations Conference on Trade and Development (UNCTAD). UNCTAD stated that in 2024, there will be a growth rate of 1,000 billion USD, equivalent to an increase of 3.3%.

Notably, in its report, UNCTAD also noted that tax measures can lead to many widespread impacts, affecting industries and economies across the entire global supply chain. 

Besides, according to UNCTAD, the risk of tariff barriers also creates instability, weakening trade, investment and economic growth in the coming time.

In 2024, trade in services grew by 7% year-on-year, accounting for half of the increase in overall trade, while trade in goods grew by just 2%. 

Therefore, UNCTAD recommends that developing economies adopt specific policies to enhance trade diversification and invest in high-value sectors to minimize risks.