Global Goods Trade Hits US$13.7 Trillion on Higher Prices

Global goods trade surged to US$13.7 trillion in the first half of 2026, a 12.5% increase from the previous year, driven by higher prices according to UNCTAD. The annual trade milestone of US$35 trillion was reached in 2025, with goods adding US$1.8 trillion to the 2.5 trillion rise. Growth was fueled by technology and energy-transition goods, with semiconductor, data centre equipment, and advanced computing hardware trade expanding strongly.

Critical minerals, batteries, and electric vehicles also saw significant growth, while solar and wind products contracted. Africa's share of global trade decreased to 2.8% in 2025, down from 5% in 1994, with 46 least developed countries accounting for only 1%. Africa primarily exports raw materials, contributing less than 2% of global manufacturing value added, while processing and manufacturing occur in East Asia, the United States, and South Korea.

China remains the world's top exporter, with imports rising by 13% in the first quarter of 2026. The Democratic Republic of Congo produced 230,000 of the world's 310,000 tonnes of cobalt in 2025, while South Africa mined roughly 71% of the world's platinum. Despite Africa's growing importance in global supply chains, most of its exports remain raw materials, leaving little value capture.