Global Seaborne Trade Is Recovering, But There Are Still Many Challenges

The United Nations Trade and Development Organization's 2024 Maritime Review report released on Tuesday showed that global maritime trade grew by 2.4% in 2023, recovering from the contraction in 2022. However, despite the signs of recovery, the future growth of maritime transport remains fragile and there are still many risks and uncertainties.

United Nations Trade and Development Organization: Global trade trends improved in the fir......

UNCTAD's forecast report notes that trade in goods is expected to increase by about $250 billion in the first half of 2024 and $100 billion in services compared to the second half of 2023, driven by strong trade dynamics in United States and developing countries, especially large developing economies in Asia.