“Growth in trade this year has defied expectations of many economists, who projected a slowdown resulting from increases in US tariffs. The Trade and Development Chart shows that globally, the volume of goods trade expanded by 5.0 percent in the first seven months of this year compared with the same period of 2024, far exceeding projections made earlier in 2025 by several institutions. Among developing countries, goods trade increased by 6.2 percent in the first seven months of this year compared with the same period of 2024.”

From World Bank.