News

UN Trade and Development advances agenda on diversification as global trade shifts toward services.

• New initiative unveiled during IMF-World Bank Spring Meetings, is the first dedicated space for borrowing countries to exchange knowledge, strengthen coordination and have a collective voice on debt.
• Borrowers’ Platform to serve developing country needs in response to long-lasting gap in international financial architecture
• UN Trade and Development (UNCTAD) takes on the role of secretariat to the platform

In a world where financial decisions shape development outcomes, the platform gives developing countries stronger tools and a more coordinated voice in managing their financial future.

Despite robust global trade growth in 2025, rising geopolitical tensions and disruptions to key shipping routes are increasing risks across the global economy, with implications for developing economies.

• Energy corridor halted: The Strait of Hormuz remains “practically closed,” disrupting a critical share of global oil and gas flows.
• Trade losing momentum: Global merchandise trade is expected to slow sharply, from about 4.7% growth in 2025 to 1.5–2.5% in 2026.
• Inflation pressures rising: Energy shocks are pushing up prices and increasing the cost of living.
• Financial stress increasing: Investors are pulling back from developing countries, weakening currencies and raising borrowing costs.
• High vulnerability: 3.4 billion people live in countries already spending more on debt than on health or education.

Cooperation among developing economies has surged over recent decades, but much of it remains invisible in data, not captured by traditional development metrics.

The ongoing conflict affecting the Strait of Hormuz region is disrupting energy and fertilizer flows, with measurable impacts on costs and growing risks for food systems, trade and vulnerable economies.

Renewed efforts by UNCTAD and its partners aim to help more countries strengthen their trade systems, benefit from international markets and prepare for emerging challenges.

Released ahead of the World Trade Organization’s 14th Ministerial Conference (MC14) in Yaoundé, Cameroon, the new data points to an expansion in global trade, but with uneven growth across countries and regions.

• Services trade is the fastest-growing part of global trade, driven by digital services
• Developing countries, especially the poorest, face major gaps in access and capacity
• Better data, stronger skills and coordinated international support are key to closing the gap