18 April 2023
Canadian Custom Brokerage

World trade in green goods grew by about 4% in the second half of last year

UNCTAD recently reported a strong global performance of trade in “green goods” in 2022.

According to the organization’s latest Global Trade Update the growth in trade of “environmentally friendly goods” defied downward trends and grew by about 4% in the second half of the year. Their combined value hit a record $1.9 trillion in 2022, adding more than $100 billion compared to 2021.

Among green goods that performed especially well were electric and hybrid vehicles (+25%), non-plastic packaging (+20%) and wind turbines (+10%).

The United Nations Conference on Trade and Development (UNCTAD) expects green industries to boom as countries scale up efforts to fight climate change and cut emissions.

The organization, in its recent Technology and Innovation Report 2023, projected the global market for electric cars, solar and wind energy, green hydrogen and a dozen other green technologies to reach $2.1 trillion by 2030 – four times more than their value today.

According to the Global Trade Update, the patterns of international trade are anticipated to become more closely tied to the transition towards a greener global economy.

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