Trade Watch Series

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Trade Expanded Despite Policy Uncertainty

Global goods trade expanded in the first half of 2025 compared with the same period of 2024 despite higher trade-policy uncertainty.
Trade in services, which is reported with a lag, expanded in the January-to-May period, and international tourist arrivals continued to exceed pre-pandemic levels in most regions.
Stress in global supply chains remained high, but container-fleet expansion helped restrain shipping costs.

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Trade Watch—a joint product of the Trade and International Integration Unit in the World Bank’s Research Group (DECRG) and the Trade Unit in the Trade, Investment, and Competition (TIC) department of the World Bank—provides up-to-date data from an array of sources, along with analysis of recent trade developments.

About the Trade Watch series

The series relies on real-time shipping data, official trade statistics for goods and services, and other sources to provide a perspective on how trade is responding to the latest economic developments.

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