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UNCTAD: Energy Crisis Dampens Global Growth to 2.6% in 2026
The United Nations Conference on Trade and Development (UNCTAD) expects global economic growth to slow to 2.6% in 2026 due to a spike in energy prices caused by the Middle East crisis, with the possibility of growth dropping to 1.3% in the worst-case scenarios. Despite the sluggish growth, trade in goods and services is projected to increase by 4% to reach an unprecedented $35 trillion in 2025. However, geopolitical crises, rising costs, and supply chain disruptions will continue to challenge the global economy. The forecasts indicate that Asia will contribute 59% of global growth, led by the economies of India, China, and Indonesia. Meanwhile, geopolitical risks and trade tensions threaten to cause financial turmoil and a decline of over 20% in trade between the United States and China since 2024.
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