The global trade (goods & services) recorded what percent increase in 2021, over the previous year 2020, as per the annual Global Trade Update 2022 released by UNCTAD?

• A. 13%
• B. 25%
• C. 28%
• D. 9%

Answer: (B)

The UN Conference on Trade and Development released its annual Global Trade Update 2022, which shows that the value of global trade, both in goods and services, reached a record level of $28.5 trillion in 2021. This is an increase of 25% compared to 2020 and 13% higher compared to 2019.