Year-end review: Trade trends for small business

12 December 2023
ITC News

The world of international business is re-globalizing, with new trade routes that are green, digital and inclusive, finds ITC’s latest multimedia report.

Post-pandemic, business models are increasingly climate sensitive – driven by consumer demand, government regulations and financial opportunities. Digital literacy is powering local innovation, while artificial intelligence is transforming conversations about the future of work, productivity, and the ethics of technological advancement.

Building resilience: The new ‘not normal’ in trade

The report, Trade Trends for Small Business – Insights from the World Export Development Forum 2023, offers case studies, statistics and interviews that show supply chains emerging around green, digital and inclusive trade. Companies and countries are shifting to reinforce resilience in the ace of climate change and conflict, while still recovering from the business impact of the pandemic. 

These trends open opportunities for small business, who use digital tools to make innovative partnerships, shaping supply chains. Blended finance and fintech are key to support their operations. Young entrepreneurs are using collaborative ecosystems to grow their ideas, and women are building stronger networks to connect women in business.

The report also puts a spotlight on landlocked countries as they navigate these new trends.

The World Export Development Forum – the only United Nations conference dedicated to public-private partnerships for small businesses in trade – celebrated its 20th edition this year.  After a three-year hiatus due to the pandemic, the gathering returned to the global stage in Mongolia, gathering business leaders, government officials, international organizations, business support institutions and companies from 63 countries.