Newsletters
Global merchandise trade volumes expanded 5.3% year-on-year in the first quarter of 2025, driven largely by importers front-loading shipments in North America ahead of anticipated tariff hikes by the United States, the World Trade Organization (WTO) reported on Tuesday.
Quarterly, global goods trade grew 3.6%, surpassing the WTO’s previous forecasts. However, the organization noted that momentum is expected to ease in the coming months due to elevated inventories and the implementation of higher tariffs.
The surge in North American imports—up 13.4% year-on-year—was linked to early purchases by importers aiming to bypass a 10% baseline tariff introduced by the U.S. on April 2.
The tariffs, which apply to all countries, prompted companies to bring forward shipments before the start of the second quarter.
Elsewhere, imports rose 5.1% in Africa, 3.6% in South and Central America and the Caribbean, 3% in the Middle East, 1.3% in Europe, and 1.1% in Asia.
The Middle East posted the highest export growth among all regions, with a 6.3% year-on-year increase. Asia followed with a 5.6% rise, while exports from South America grew 3.2%, Africa 2.5%, and North America 1.8%.
Türkiye, a key export hub in the region, also contributed to the upward trend as the country’s exports rose 2.5% compared to the previous year, reaching $65.32 billion.
In nominal terms, the value of global trade in goods increased 4% compared to the first quarter of the previous year, based on seasonally unadjusted export data in US dollars.
Among product categories, office and telecom equipment led growth with a 16% increase, followed by chemicals at 12% and clothing at 7%.
By contrast, automotive products and fuels and mining goods both saw a 4% decline. Within that category, fuels dropped 7%, and iron and steel fell 3%.
Although fuel prices remained broadly stable year-on-year, the WTO noted that prices for metals and minerals—excluding gold and silver—were up by 8%.
8 min read
