Foreword by SG Grynspan

Official photo of SG Grynspan

As we approach the 16th session of the UNCTAD Conference in 2025, the global outlook is concerning -—
– ‒
- –
—-
-—
– ‒
- –
—-
-—
– ‒
- –
—-
-—
– ‒
- –
—-
. Only 17% of SDG targets are on track for 2030, and overlapping crises—conflicts, climate shocks, trade disruptions—are compounding inequality and undermining progress. SDG Pulse 2025 provides a data-driven analysis of these challenges, with a focus on trade & development in the Global South, building on the Bridgetown Covenant’s four pillars -—
– ‒
- –
—-
-—
– ‒
- –
—-
-—
– ‒
- –
—-
-—
– ‒
- –
—-
.

The trade landscape presents a mixed picture. In 2024, developing economies accounted for 46% of global merchandise exports—up from 42% in 2014—and increased their share of global services exports from 27% to 30%. Yet LDCs remain on the margins, representing only 1.1% of merchandise exports and 0.5% of services exports. Services trade remains highly concentrated among a few top performers, while high tariffs—especially on goods reliant on critical minerals like electric vehicles—entrench imbalances.

These disparities are further aggravated by financial pressures. While developing economies’ debt burden continues to grow, foreign direct investment declined by 11% (excluding European conduit economies) last year. Development finance remains scarce, and illicit financial flows pose a major obstacle: trade-related illicit flows are estimated at 5%–30% of official merchandise trade in many African countries. Critical minerals are particularly exposed to such losses. Pilot studies in 22 countries show that tracking these flows can help recover vital resources for sustainable development.

Technological development also remains uneven. R&D is critical for economic transformation, yet only a few countries achieve high R&D intensity and government support is decreasing in this field. LDCs are falling behind in reaching the goal of doubling their share in global manufacturing value added and employment. The digital divide persists: in 2023, mobile broadband cost an average of 4.6% of per capita GNI in LDCs, while fixed broadband reached 16%—a level unaffordable for many.

On sustainability, climate and weather extremes pose escalating risks, particularly to ports and infrastructure. With 70% of disaster-related fatalities occurring in LDCs, the poor are disproportionately affected. Still, progress is visible: the number of countries adopting national disaster risk reduction strategies has doubled over the past decade, and the carbon intensity of the global economy continues to decline, even as emissions rise.

In response to these challenges, a new UN framework co-developed by countries of the global South offers a more inclusive approach to reporting development cooperation. Pilot studies in four countries show that 90% of South-South cooperation is non-financial—scholarships, humanitarian assistance, and technical cooperation being most common. Capturing these flows is crucial to recognizing the full spectrum of development support beyond financial transfers.

This year’s In-Focus chapter explores the strategic role of critical minerals. In 2023, trade in these minerals reached $2.5 trillion. Asia imported more than half of the global total, while Africa and Oceania were leading exporters. This trade is very concentrated and deeply specialized, with implications for industrial policy, the energy transition, and digital transformation.

SDG Pulse 2025 is a data-powered call to action. As we head toward UNCTAD16 in Geneva, we must realign our efforts with the 2030 Agenda, strengthen inclusive development strategies, and reaffirm UNCTAD’s role in shaping resilient, equitable outcomes. The time for data-informed action is now.

Rebeca Grynspan
Secretary General of UN Trade and Development

References

    Lorem ipsum dolor sit amet, consectetur adipiscing elit.
    Donec tincidunt vel mauris a dignissim. Curabitur sodales nunc id vestibulum tempor. Nunc tortor orci, sodales nec eros eget.
    Lorem ipsum dolor sit amet, consectetur adipiscing elit.
    Donec tincidunt vel mauris a dignissim. Curabitur sodales nunc id vestibulum tempor. Nunc tortor orci, sodales nec eros eget.
    Lorem ipsum dolor sit amet, consectetur adipiscing elit.
    Donec tincidunt vel mauris a dignissim. Curabitur sodales nunc id vestibulum tempor. Nunc tortor orci, sodales nec eros eget.
    Lorem ipsum dolor sit amet, consectetur adipiscing elit.
    Donec tincidunt vel mauris a dignissim. Curabitur sodales nunc id vestibulum tempor. Nunc tortor orci, sodales nec eros eget.
    Lorem ipsum dolor sit amet, consectetur adipiscing elit.
    Donec tincidunt vel mauris a dignissim. Curabitur sodales nunc id vestibulum tempor. Nunc tortor orci, sodales nec eros eget.