World Trade Organization: Global commodity trade growth exceeded expectations in the first quarter of this year

Geneva, July 31 (Xinhua) -- The latest data released by the World Trade Organization on July 31 shows that global commodity trade growth exceeded expectations in the first quarter of 2026, with a significant increase in trade in artificial intelligence related electronic components, offsetting the negative impact caused by the outbreak of the Middle East conflict at the end of February.

According to the data, after seasonal adjustment, the global commodity trade volume in the first quarter of this year increased by 1.9% month on month and 3.2% year-on-year; In terms of value, global commodity trade increased by 2% month on month and 11% year-on-year.

The World Trade Organization stated that despite the negative impacts of the Middle East conflict, including disruptions in cargo transportation in the Strait of Hormuz and slower economic growth in net fuel importing countries due to rising energy prices, the strong growth in trade in electronic components related to artificial intelligence has offset these negative effects. In the first quarter of this year, the global trade volume of artificial intelligence related products denominated in US dollars increased by over 40% year-on-year.

From a regional perspective, the trade of goods in the Middle East has been severely affected by the war, with exports and imports decreasing by 9.7% and 11.9% year-on-year in the first quarter, respectively, and the decline is expected to be even greater in the second quarter. Driven by investment expenditures related to artificial intelligence, exports and imports in Asia increased by 12.9% and 14.6% year-on-year in the first quarter, mainly due to the circulation of AI related goods within the region. The export volume of North America in the first quarter increased by 7.0% year-on-year, while the import volume decreased by 10.7% year-on-year.

The World Trade Organization expects that trade data for the next quarter will more comprehensively reflect the impact of shipping disruptions in the Strait of Hormuz.