India, Dec. 10 -- Global trade is on course to exceed $35 trillion in 2025 for the first time, according to UNCTAD's final Global Trade Update of the year.

The new data confirm that trade continued expanding through the second half of 2025, even as geopolitical tensions, higher costs and uneven global demand slowed momentum.

Between July and September, global trade grew 2.5% compared with the previous three months. Goods rose nearly 2%, services 4%. Growth is expected to continue in the year's final quarter, though at a slower pace: 0.5% for goods and 2% for services.

A key shift is unfolding on prices. After two quarters in which trade values rose partly because goods became more expensive, prices are now expected to drop.

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