UNCTAD (UN Trade & Development) cited some key topics in its July report on the Global Trade Update. One of the most notable of these is the determination that "the positive trade dynamics between growth, the United States, and developing countries took place in sectors related to green energy and artificial intelligence."

Some chapters from the UNCTAD report are as follows:

1. Consolidation in Global Trade: In the first quarter of 2024, global trade rebounded as developing countries and south-south trade* grew faster than developed countries.

2. Sectoral Performance: Products related to green energy and artificial intelligence experienced stronger growth, while European and African performances fell short of expectations.

3. 2024 Expectations: Global trade is expected to have a positive outlook throughout 2024; however, geopolitical issues and industry policies will continue to reshape trade patterns.

4. Changing Prices: In the first quarter of 2024, the prices of trade goods remained stable, but an increase is expected in the second quarter.

5. Regional Trends: While both imports and exports increased in developing countries, exports increased in developed countries but imports remained unchanged.

6. Important Economies: Imports of Brazil, Russia and the United States increased; China and India performed strongly in their exports.

7. Service Trade: The service trade showed a positive trend in the first quarter of 2024, with an increase in imports in most major economies.

8. Industrial Policies: In developed and developing markets, government interventions have come to prominence with support for increasing the competitiveness of strategic industries.

9. Supply Chain and Geopolitics: Supply chains are extended and restructured in response to changes in trade policies and geopolitical tensions.

10. The Future of Global Trade: Increased supply concentration and protectionism can make it difficult for small economies to enter strategic markets and lead to further division of global trade.

*: South-South Cooperation is a term historically used by policymakers and academics to describe the exchange of resources, technology, and information between developing countries (also known as the Global Southern countries). For detailed information, please click here

To read the full report, please click here