WTO: Strengthening multilateral trade could raise global GDP by 2.9%

The World Trade Organization (WTO) estimates in its World Trade Report 2026, released on September 15 local time, that strengthening the multilateral trading system could lift global GDP by roughly 2.9% and boost global exports by 17.9%.

The report states that stronger cooperation could help economies benefit from trade while addressing emerging challenges from technological  transformation, shifting economic power and geopolitical tensions. 

The report also warns that if countries take no action and allow multilateral trade rules to be eroded, global output could drop by as much as 10%. WTO Director-General Ngozi Okonjo-Iweala stresses that roughly 72% of global merchandise trade is still conducted under the WTO's most-favoured-nation principle. She notes the system continues to provide a foundation for predictable and non-discriminatory trade, even amid a more fragmented global trading landscape.

While the global trade landscape has undergone profound shifts, the report argues that the solution lies in adapting the multilateral trading system rather than abandoning it.

Okonjo-Iweala notes that cooperative development among economies remains more beneficial than unilateral actions, underscoring the need to update global trade rules to keep pace with an evolving world economy.