UNCTAD

The U.N. trade body has sounded an alarm that global trade is being disrupted by attacks in the Red Sea, the war in Ukraine, and low water levels in the Panama Canal.

Jan Hoffmann, a trade expert at UNCTAD, warned that shipping costs have already surged and energy and food costs are being affected, raising inflation risks.

In a concerning development for global trade, the Suez Canal has experienced a dramatic drop of more than 40% in traffic volume, attributed to repeated attacks by Yemen rebels on merchant ships. The United Nations, through data provided by the UN Conference on Trade and Development (UNCTAD), expresses deep concerns about the implications of these disruptions on worldwide commerce.

Despite the negative impact of the coronavirus pandemic globally, Turkey was one of a few countries that posted growth, pushing international organizations to revise their growth forecasts for the country.

While the pandemic hit the global economy hard in 2020, Turkey's economy, contrary to expectations, posted a 1.8% growth.

The global economy is set to grow by 4.7% this year thanks to a stronger-than-expected recovery in the United States, a report by the UN Conference on Trade and Development (UNCTAD) said on Thursday, revising up its previous forecast of 4.3%.

E-commerce sales hit $25.6 trillion globally in 2018, up 8% from 2017, according to the U.N.'s trade and development body on April 27. 
The estimated 2018 e-commerce sales value, which includes business-to-business (B2B) and business-to-consumer (B2C) sales, was equivalent to 30% of global GDP that year, according to U.N. Conference on Trade and Development (UNCTAD).

Yanis Varoufakis and another 18 economists signed an open letter asking for the support of Europe on the Greek debt relief issue which will be discussed at the United Nations General Ass