A new record figure of global trade will be seen with 32 trillion dollars

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Mumbai: In the current year, global trade has increased by 12 percent to cross the mark of 32 trillion dollars, according to a United Nations report. This number of global trade will be a new record. However, the report also predicts a slowdown in global trade in 2023.

The global trade figure is on the rise due to the increase in the trade value of energy products.

Compared to last year, trade in goods has increased by 10 percent to 25 trillion dollars. While the trade of the service sector has increased by 15 percent in the current year to the level of seven trillion dollars.

The report also predicts a slowdown in world trade in 2023 due to geopolitical tensions, low economic growth, high commodity prices and high levels of global debt.

Trade continued to increase in 2022, indicating that global demand remains resilient.

The global trade outlook is uncertain, while the negative factors seem to be outweighing the positive factors.

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