Rising Trade Values Mask the True Cost of Global Supply Chain Disruptions

Sailing container ship. Credit: Unsplash/Kinsey Wangby Maximilian Malawista (united nations)Thursday, August 13, 2026Inter Press Service UNITED NATIONS, August 13 (IPS) - Global goods trade reached approximately USD 13.7 trillion in the first half of 2026, up 12.5 percent from the same period in 2025, while services grew 10.5 percent, together adding USD 2 trillion to global trade. While these figures point to continued expansion, much of the increase reflects rising prices rather than stronger trade volumes. According to UNCTAD’s Division on International Trade and Commodities, disruptions to shipping through the Strait of Hormuz have strained energy supplies, increased fuel costs, disrupted maritime logistics, and raised production costs across a wide range of industries. Prices for traded goods rose 3.6 percent year-on-year in the first quarter of 2026, accelerating to 5.1 percent in the second quarter. Although merchandise trade continues to expand, UNCTAD’s nowcast, its data and model-driven predictions of global trade over period growth, estimates that trade by value will grow by 4.2 percent in the third quarter of 2026 compared with the same period last year, suggesting that...