联合国贸发会议：2025年全球贸易更新报告（10月版）（英文版）

Overall, trade growth remained positive in the first half of 2025, despite rising trade policy uncertainty, persistent geopolitical tensions, and a challenging global economic environment. During this period, global trade increased by about US$ 500 billion compared with the second half of 2024, although growth patterns were volatile. During Q2 2025, both goods and services trade showed consistent expansion, largely supported by the strong performance of developing economies, while trade of de