Global Trade Up 12.5% in H1 2026 Driven by Price Hikes and Shipping Disruptions, UNCTAD Reports
Quick Look
- Global trade surged 12.5% to $13.7 trillion in H1 2026, with services up 10.5%, UNCTAD reported.
- This growth largely reflects higher prices due to shipping disruptions in the Strait of Hormuz and fuel supply chain concerns, rather than increased trade volumes.
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Why It Matters
The UN Trade and Development (UNCTAD) agency released its global trade update, reporting on the performance of global goods and services trade in the first half of 2026.
GENEVA, July 22. /TASS/. Global trade grew by 12.5% in the first six months of 2026 year-on-year, mostly as a result of price hikes caused by shipping disruptions in the Strait of Hormuz and concerns about fuel supply chains, the UN Trade and Development (UNCTAD) agency said in its global trade update.
"Global goods trade is estimated to have reached approximately $13.7 trillion in the first half of 2026, up 12.5% from the same period in 2025. Services trade grew by 10.5%," the report says.
The organization said that "a significant share of the increase reflects higher prices rather than stronger trade volumes."
In UNCTAD’s estimates, "disruptions to shipping through the Strait of Hormuz, together with concerns over energy supplies, raised energy, transport, logistics and production costs" had a serious effect on the global trade inflation in the reported period.
Open Questions
- What specific measures are being taken to address shipping disruptions?
- What is the long-term outlook for global trade volumes?
- How will these price hikes impact consumer spending?
