WTO data released July 31 showed global merchandise trade in Q1 2026 exceeded expectations. Seasonally adjusted volumes rose 1.9% QoQ and 3.2% YoY. Trade in AI-related electronic components surged, offsetting negative effects from the Middle East war late in the quarter. Asia exports and imports climbed YoY 12.9% and 14.6%, led by China, Singapore, South Korea and Thailand. North American exports rose 7% YoY while imports fell 10.7% YoY. The WTO said next quarter’s data should more fully reflect

WTO data released July 31 showed global merchandise trade in Q1 2026 exceeded expectations. Seasonally adjusted volumes rose 1.9% QoQ and 3.2% YoY. Trade in AI-related electronic components surged, offsetting negative effects from the Middle East war late in the quarter. Asia exports and imports climbed YoY 12.9% and 14.6%, led by China, Singapore, South Korea and Thailand. North American exports rose 7% YoY while imports fell 10.7% YoY. The WTO said next quarter’s data should more fully reflect disruptions around the Strait of Hormuz.