Environment and Climate Change
Trade and Development Report 2025
On the Brink: Trade, Finance and Global Uncertainty
The Trade and Development Report (TDR), launched in 1981, is issued every year for the annual session of the Trade and Development Board. The Report analyses current economic trends and major policy issues of international concern, and makes suggestions for addressing these issues at various levels. On the surface, global trade looks resilient. Goods are moving, supply chains are adapting, and trade grew about 4% in early 2025 – even amid tariff hikes and geopolitical tensions. Over 90% of world trade now depends on trade finance. This means that banks, platforms that clear transactions and complex financial instruments like derivatives determine who can trade, on what terms and at what cost. Yet unlike trade, global finance remains highly concentrated – leaving much of the global South on the margins. The Trade and Development Report 2025 reveals how the tightening link between trade and finance is reshaping global opportunities – and why the stakes are greatest for developing countries.
Acknowledgements
The Trade and Development Report 2025 of the United Nations Conference on Trade and Development (UNCTAD) was prepared by a report team led by Anastasia Nesvetailova, of the Division on Globalization and Development Strategies.
Explanatory notes
The analysis presented in the present report is consistent with information and data available as at 10 November 2025.
Foreword
When we discuss international trade, we typically speak of supply chains – networks of factories, farms, ports and transport routes that move goods across borders. But there is another architecture lying beneath this visible flow, one less discussed yet equally powerful: the architecture of balance sheets.
Forests and wood – the great green engine
In early human history, wood harvested from forests was a vital source of energy, tools, utensils, furniture, shelter and construction materials.
How natural are the UNECE forests?
Depending on its origin and development, FAO distinguishes two main types of forest: naturally regenerating forests, including primary forests, and planted forests, including plantations.
How much of the world is forested?
Forests are dynamic ecosystems, shaped by natural and human influences which constantly change.
2025 Forest Profile for Europe, North America, Caucasus and Central Asia
This comprehensive study explores the multifaceted role of forests within the environment, economy, and society, with a specific focus on the ECE region. It begins by defining and presenting the global distribution of forests, followed by a detailed examination of their diverse biomes and typical forest types within the ECE region. The document tracks forest development, including area and growing stock dynamics, and highlights key tree species. It then delves into critical aspects such as the health and vitality of forests, their management practices (including ownership and functions), and their vital protective functions for both humans and the planet. Further sections are dedicated to the immense biodiversity found in ECE forests, their crucial role as carbon reservoirs in climate regulation, and their significant economic contributions through timber and non-wood forest products. Finally, the overview addresses the profound social dimensions of forests, recognizing their value for recreation and cultural heritage.
What are the different trees in the UNECE forests?
Trees are vital parts of our planet’s ecosystems.
Forests and carbon – a global reservoir
Forests account for 92% of all terrestrial biomass and are a significant natural storage place for carbon.
Forests - social and economic benefits
Forests are more than the sum of their wood, non-wood products and environmental services.