Trade between developing economies has surged from $500 billion in 1995 to $6.8 trillion in 2025, now representing over a quarter of global commerce. Germany–China bilateral trade reached $296 billion making China Germany’s largest trading partner. Meanwhile, the UK’s goods trade deficit hit a record $338 billion in 2025, offset only partially by a record $261.3 billion services surplus. These shifts mark a fundamental reordering of global trade gravity away from transatlantic corridors toward emerging-economy hubs.
WEF / ONS / UNCTAD · March 2026