Global Trade Set to Rise in 2025, Nigeria Faces Decline

The United Nations Conference on Trade and Development (UNCTAD) reports that global trade is expected to rise in 2025, primarily fueled by an 11% expansion in manufacturing activities. Despite this positive outlook, the report highlights volatility in commodity prices, leading to uneven performance across various sectors.

The manufacturing sector, particularly machinery, is identified as the main driver of this trade expansion. However, trade growth is anticipated to slow down in 2026 due to ongoing geopolitical uncertainties and inflationary pressures.

In contrast, Nigeria's trade performance shows a decline, particularly in manufacturing exports, attributed to a significant reduction in oil export volumes, as reported by the National Bureau of Statistics. The report indicates that while global trade has risen approximately 2% quarter-on-quarter, Nigeria's situation reflects a divergence from the broader positive trends observed globally.