Global Goods Trade Grew Faster Than Expected in Q1 2026 Despite Middle East War

According to EcoIran, citing WTO and UNCTAD data, seasonally adjusted global goods trade volume grew 1.9 percent quarter on quarter and 3.2 percent year on year in the first quarter of 2026, while its dollar value rose 2 percent quarter on quarter and 11 percent year on year. A surge in AI related electronics trade, whose dollar value jumped more than 40 percent year on year, offset part of the negative impact from the Middle East war, which began in the quarter's final days. Still, West Asia's seasonally adjusted export and import volumes fell 9.7 percent and 11.9 percent year on year respectively, and WTO economists expect the Strait of Hormuz disruption to weigh more heavily on second quarter trade data.