Published: Jan 14, 2025

Global trade has experienced significant growth, with the United Nations Conference on Trade and Development (UNCTAD) reporting a projected record of $33 trillion in trade value for 2024. This expansion is primarily driven by a 7% increase in services trade, while goods trade has grown by a modest 2%, not yet reaching the peak levels of 2022. 

The United States maintains its position as a leading importer, with a 4% quarterly and annual increase in goods imports, reflecting robust domestic demand. The U.S. retail market, valued at over $7 trillion, accounts for approximately a quarter of the global market. Retail giants such as Walmart, Amazon, and Costco continue to dominate, with Walmart leading as the largest retailer both domestically and globally. 

China remains a key player in global trade, holding the position of the world’s second-largest importer for 15 consecutive years, with goods imports totaling $2.56 trillion in 2023. This underscores the significant trade relationship between the U.S. and China, with American retailers heavily relying on Chinese suppliers to meet consumer demand.

As global trade dynamics evolve, EasySpeed is poised to provide efficient global logistics solutions, facilitating cross-border commerce and supporting the continuous growth of international trade.

Sources: UNCTAD, Capital One Shopping