Global Goods Trade Reaches $13.7 Trillion in First Half of 2026, Driven by High-Tech Products and Price Hikes, UNCTAD Reports
According to UNCTAD's July 2026 update, global goods trade rose 12.5% and services 10.5%, adding $2 trillion total in H1.
UNITED NATIONS,ECONOMY
Global N Press
7/22/20261 min read
On July 22, 2026, the UN Trade and Development (UNCTAD) released its Global Trade Update report. The report estimated that global goods trade reached approximately $13.7 trillion in the first half of 2026, up 12.5% from the same period in 2025, while services trade grew by 10.5%, with goods and services trade together adding approximately $2 trillion. However, UNCTAD explicitly noted that "a significant share of the increase reflects higher prices rather than stronger trade volumes". The report pointed out that disruptions to shipping through the Strait of Hormuz, together with concerns over energy supplies, raised energy, transport, logistics and production costs, having a serious effect on global trade inflation. Meanwhile, demand for high-tech products including AI-related equipment, semiconductors, and data center infrastructure remained robust, serving as a key driver of trade growth.
An UNCTAD analysis further noted that the current global trade recovery exhibits a structural characteristic of "localized prosperity amidst overall slowdown" – growth momentum is highly concentrated in AI infrastructure and related hardware products, while traditional industries and commodity trade remain weak. UNCTAD projected that real growth in global goods trade will slow from 4.7% in 2025 to between 1.5% and 2.5% in 2026. The report warned that the current over-reliance on AI-related industries for trade growth makes the global economy more vulnerable to external shocks.
