Global goods trade rose 12.5 per cent year-on-year to about $13.7tn in the first half of 2026, driven by strong demand for artificial intelligence and electric vehicle-related products, particularly in East Asia.

The United Nations Conference on Trade and Development disclosed this in its latest report, titled “Global trade continues to expand amid rising price pressures.”

UNCTAD said the increase in goods trade was partly supported by higher prices, while global services trade grew at a slower pace, rising 10.5 per cent compared with the first half of 2025.

It said developing economies in East Asia played a major role in the expansion of global goods trade, supported by robust regional activity and rising demand for critical minerals, semiconductors and other products linked to AI and electric vehicles.

According to the report, trade in critical minerals rose 38 per cent in the first quarter of 2026, while semiconductor trade increased by 25 per cent.

Battery trade grew by 15 per cent, ICT goods by 14 per cent and electric vehicle trade by 11 per cent.

UNCTAD said developing economies and South-South trade recorded double-digit growth over the past 12 months when East Asian economies were included.

The agency noted that the continued expansion of global trade comes amid rising price pressures, highlighting the growing importance of technology-related products and supply chains to global commerce.

Trade growth in the first quarter was largely driven by developing economies in East Asia, which recorded double-digit quarterly growth, while other Asian subregions posted declines.

Excluding East Asia, developing economies recorded an overall contraction in trade during the quarter, largely due to weaker import and export activity in the Middle East and South Asia.

Developed economies, meanwhile, maintained a similar pace of positive quarterly trade growth compared with the previous quarter.

Intra-regional trade expanded across most regions, although growth remained subdued in South America.