United Nations Conference on Trade and Development (2018)
Maritime transport is the backbone of international trade and the global economy. Around 80 percent of global trade by volume and over 70 percent of global trade by value are carried by sea and are handled by ports worldwide.
Global seaborne trade is doing well, supported by the 2017 upswing in the world economy. Expanding at 4 percent, the fastest growth in five years, global maritime trade gathered momentum and raised sentiment in the shipping industry. While the prospects for seaborne trade are bright, downside risks such as increased inward-looking policies and the rise of trade protectionism are, nevertheless, weighing on the outlook.
If leveraged effectively, game-changing trends, such as digitalization, electronic commerce (e-commerce) and the Belt and Road Initiative, the exact impact of which is yet to be fully understood, have the potential to add wind to the sails of global seaborne trade.