India's Trade Momentum Strong: UNCTAD

Global trade imbalances widened in 2024, nearing levels last seen in 2022, according to trade data trends

- Dhirendra Kumar

India's trade performance remained strong in 2024, defying global economic uncertainties, with exports growing 6.3% for the calendar year, significantly outpacing global trade growth of 3.7%, according to the latest report by the United Nations Conference on Trade and Development (UNCTAD).

India, alongside the US and China, played a key role in driving global trade, which saw an overall increase of nearly $1.2 trillion, as per the report. While trade in goods recorded a modest growth, services led the surge, contributing $700 billion to the global trade expansion, compared to $500 billion from goods.