UNITED NATIONS: Developing nations, particularly India and China, saw better than average trade expansion in the fourth quarter of 2024, a UN report has said but warned of a “potential for an economic slowdown” globally in the upcoming quarters.
The latest Global Trade Update by UN Trade and Development (UNCTAD), covering data through early March, said that global trade expanded by nearly USD 1.2 trillion in 2024, reaching USD 33 trillion—a result of a 9 per cent rise in services trade and a 2 per cent increase in goods trade.
“Developing nations, particularly China and India, saw better than average trade expansion, while many developed nations experienced trade contractions,” it said. PTI
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