2024 has been a transformative year for international trade. According to UNCTAD’s latest Trade Update, global trade is set to reach an all time high of USD 33 trillion, growing at 3.3% despite ongoing geopolitical tensions and economic uncertainties.

This year also saw unprecedented electoral activity, with over 2 billion voters across 50 countries—representing 46% of global GDP—casting their vote. Donald Trump’s second non-consecutive presidential win is already reshaping market dynamics, with ripple effects expected in US trade, fiscal policies, and global economic strategies.

This CEO insight reviews the main events and developments of 2024 that have shaped or are anticipated to shape global trade, including significant conferences like the WTO MC13 and G20 Summit, regulatory developments like the EU AI Act, and strategic initiatives such as the AfCFTA Protocol on Digital Trade. It also notes shifts in trade policy, such as US tariff increases and climate-focused goals at COP29.