As the World Trade Organization prepares to convene its 14th Ministerial Conference (MC14) in Yaoundé, Cameroon, from 26 to 29 March, newly released data from the United Nations Conference on Trade and Development (UNCTAD) and the WTO paint a complex picture of global trade in 2025. The figures show robust overall growth in both merchandise and services exports, yet they underscore widening gaps between countries and regions that could shape the debates on reforming the multilateral trading system.
The joint release by UNCTAD and the WTO comes at a pivotal moment. With global trade facing rising uncertainty from geopolitical tensions, shifting policies, and uneven economic recoveries, accurate and timely statistics are essential for informed decision-making. The longstanding collaboration between the two organizations in producing these data offers a reliable evidence base that helps negotiators identify priorities and measure the impact of policy choices.
According to the report, world merchandise exports reached $26.3 trillion in 2025, representing a 7.2% increase over the previous year. Developing economies, as a group, recorded a modest rise in their aggregated trade surplus, reflecting both their expanding presence in global markets and the persistent challenges they face in achieving equitable growth.
The data highlight stark regional differences in merchandise export trends. Developing economies overall achieved an 8.7% increase in exports, driven largely by the larger members of this group. China’s exports grew by 5.5%, while Taiwan Province of China surged by 35.1%. Hong Kong, China and Viet Nam also recorded notable increases of 16.7% and 16.8%, respectively. Smaller African least developed countries registered extraordinary growth rates, with the Central African Republic’s exports more than doubling at 110.3%, Burkina Faso climbing 96.4%, and Burundi increasing 89.6%. Such figures point to pockets of rapid expansion, though these remain concentrated among a handful of countries.
Services exports also showed strong performance in 2025, surpassing $9.5 trillion worldwide, an 8.2% annual increase. Africa led the regional growth rankings, with Northern Africa posting 14% growth and Sub-Saharan Africa close behind at 13%. Developing economies are gradually moving toward the United Nations Sustainable Development Goal of capturing a larger share of world services exports. Yet the statistics reveal an uneven picture: when the five leading exporters in the developing group are excluded, the remaining countries have actually lost market share over the past decade, indicating persistent structural challenges.
Across services categories, all sectors except transport registered solid increases. Transport services exports, by contrast, rose by only 2%, reflecting disruptions from tariff changes and security concerns that continue to complicate the movement of goods and people. This divergence highlights the nuanced nature of services trade, where infrastructure, policy, and regional stability play decisive roles.
The disparities revealed in the UNCTAD–WTO data are likely to shape discussions at MC14, where members will confront questions about reforming trade rules to better support development and sustainability goals. Negotiators will have to weigh the overall growth of world trade against the uneven distribution of benefits, particularly in regions that continue to lag behind despite the broader expansion. The statistics also provide a benchmark for assessing the effectiveness of trade policies and for exploring cooperative strategies to enhance market access, especially for smaller and less developed economies.
By providing comprehensive insights into merchandise and services trade, the UNCTAD–WTO release emphasizes both the opportunities and vulnerabilities inherent in the current global system. While large exporters continue to drive overall growth, smaller economies are showing that rapid gains are possible under favorable conditions, though these gains often remain fragile. The forthcoming ministerial in Yaoundé will be a critical test of whether the multilateral trading framework can respond effectively to these divergent trends and support more inclusive global growth.
As world leaders and trade ministers gather in Cameroon, the statistics offer a timely reminder that while the world economy is expanding, the benefits are unevenly distributed. The challenge for policymakers will be translating impressive aggregate growth into tangible improvements for countries and populations still on the periphery of global commerce. In this context, the UNCTAD–WTO data serve not only as a snapshot of current trade patterns but also as a guide for crafting strategies that aim for greater equity and sustainability in the international trading system.
