According to a new report from the United Nations Conference on Trade and Development (UNCTAD), global trade was worth a record $32 trillion in 2022, but amid deteriorating economic conditions and rising uncertainties, growth turned negative in the last half of the year and is set to stagnate in the first half of 2023.
The silver lining was the strong performance of trade in environmentally friendly “green goods,” says UNCTAD’s latest Global Trade Update.
“This is good news for the planet,” says Alessandro Nicita, one of the report’s authors, “as these goods are key to protecting the environment and fighting climate change.”
Business trends in 2023 revolve around corporate sustainability. From adopting the circular economy to cleaning up the global supply chain, 2023 is the year that companies must put sustainability in business into action. University of Navarra IESE Business School professors explore ways to put sustainability at the heart of business.
World Trade Organization (WTO) members and stakeholders from every part of the supply chain shared perspectives on the underlying causes and trajectory of continued supply chain disruptions. They also discussed the resources, interventions and innovations needed to ease crippling disruptions, logjams and price hikes.