The Global Trade Research Initiative (GTRI) forecasts a 1.2% decline in global merchandise trade growth in value terms for 2024, attributed to ongoing geopolitical uncertainties. Despite a projected 2.6% rise in trade volume by the World Trade Organization (WTO), trade values are expected to lag behind. GTRI emphasizes the complexity of accurately measuring trade volume and highlights the significant impact of commercial services trade growth amidst the decline in goods trade value.