GENEVA, Switzerland — Global trade expanded in 2025 as manufacturing output surged 11 percent, though commodity price swings and geopolitical pressures are expected to slow the momentum this year, the United Nations Conference on Trade and Development (UNCTAD) said in a report released in April 2026.
Okay News reports that UNCTAD’s Global Trade Update (April 2026) , titled “Global Trade Growth Continues, but Fragility Rises,” noted that industrial goods, particularly machinery, became the primary driver of the expansion, while trade in natural resources fell due to weaker energy prices.
“Manufacturing recorded a strong year, expanding by around 11 per cent, driven by robust growth in machinery, including both electrical and non‑electrical segments,” UNCTAD stated. Agricultural trade also rose, supported by cereals, animal products, coffee, tea and spices, although momentum in coffee eased toward year‑end. Precious metals helped cushion declines in broader resource trade.
Global trade rose roughly 2 percent quarter‑on‑quarter, with goods up 1.7 percent and services roughly 3 percent, according to the report. However, UNCTAD said trade growth is expected to slow considerably in 2026, weighed by geopolitical uncertainties, persistent inflation and higher trade costs.
Nigeria’s trade figures diverged sharply from the global trend. According to the National Bureau of Statistics (NBS) , manufactured goods exports fell to N423.43 billion in the fourth quarter of 2025, a 14.32 percent year‑on‑year drop and a 56.73 percent plunge from the previous quarter.
Total merchandise trade stood at N36.21 trillion (approximately $24.14 billion), down from N39.77 trillion in the third quarter of 2025. The trade surplus narrowed to N1.71 trillion (approximately $1.14 billion) from N6.691 trillion over the same period, driven largely by reduced crude oil export volumes.
 said in a report released in April 2026.){kind=link}