%20(500%20%C3%97%20280%20px)%20(500%20x%20300%20px)%20(14).png "UNCTAD Report: India, China Saw Strong Trade Growth in Q4 2024 Amid Risks")
Key highlights from the report include:
a) $25 trillion
b) $30 trillion
c) $33 trillion
d) $40 trillion
- Global Trade Milestone: Trade reached a record $33 trillion in 2024, with services trade rising 9%, and goods trade increasing 2%.
- India's Growth: India experienced significant growth, with 8% quarterly and 6% annual increases in goods imports, and 7% quarterly and 2% annual growth in goods exports. Services also surged, with 10% annual growth in both exports and imports.
- China's Contribution: China's trade surplus expanded, thanks to strong export momentum and stable domestic demand.
- Risks Identified: The report warned of challenges like trade imbalances, geopolitical tensions, and slowing demand in shipping, which could affect future trade growth.
Question:
Q.1 According to the "Global Trade Update (March 2025)" by UNCTAD, what was the total global trade value recorded in 2024?a) $25 trillion
b) $30 trillion
c) $33 trillion
d) $40 trillion
Answer: c) The report highlighted that global trade reached a record $33 trillion in 2024, with services trade rising by 9% and goods trade increasing by 2%.
