A view of the Devon, an oil tanker transferring oil from the Persian Gulf, in March 2018.
The value of global trade is set to reach a new record this year, increasing by about 12 percent to an estimated $32 trillion, according to a United Nations (UN) report that signals a slowdown heading into 2023.
"The substantial trade growth during the last year was largely due to increases in the value of the trade of energy products," the UN's Conference on Trade and Development (UNCTAD) said in the report released Tuesday.
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