UN Trade and Development (UNCTAD)

The world is facing an unprecedented development crisis: the debt crisis. Global public debt has more than doubled from $51 trillion in 2010 and may surpass $100 trillion by 2024. This poses a direct threat to achieving the Sustainable Development Goals. Developing countries owe nearly one-third of this debt, and their debt is growing twice as fast as that of developed nations. In some African countries, it exceeds 60% of GDP, and some developing countries pay interest rates up to 12 times higher than those in industrialized nations. People, not markets, are paying the price. https://ow.ly/Ojxy50Ts1f4 #OurCommonFuture

The creative economy is growing fast, with creative services leading the charge. According to UN Trade and Development’s (UNCTAD) Creative Economy Outlook 2024, creative services exports surged by 29% to $1.4 trillion in 2022, while creative goods exports increased by 19% to $713 billion. Creative services now represent 19% of all global service exports, up from 12% a decade ago. Meanwhile, creative goods exports have remained steady at 3% of total goods trade. While developing countries primarily export creative goods, their share of global creative services exports has grown significantly, from 10% in 2010 to 20% in 2022. Software services accounted for 41.3% of all creative services exports in 2022, followed by research and development (30.7%), advertising and architecture (15.5%), audiovisual services (7.9%), information services (4%), and cultural, recreational, and heritage services (0.6%). Explore the data & analysis: https://ow.ly/lx2l50TE9nI

Creative services exports surged to $1.4 trillion in 2022, marking a 29% increase since 2017. Meanwhile, creative goods exports reached $713 billion, a 19% increase. Over the past decade, creative services' share of all service exports rose from 12% to 19%, while creative goods' share of all goods exports has remained steady around 3% since 2002. Developing countries primarily export creative goods, while developed countries dominate creative services exports. However, developing countries have significantly increased their share from 10% in 2010 to 20% in 2022. Explore the Creative Economy Outlook 2024: https://ow.ly/Ryhr50SM0m3

Mr. Baboucarr Joof, Minister of Trade, Industry, Regional Integration and Employment of The Gambia, met with UN Trade and Development (UNCTAD) Deputy Secretary-General PEDRO MANUEL MORENO to emphasize the crucial role of investment and business facilitation in development.   With microenterprises and small and medium-sized enterprises (SMEs) making up about 90 percent of businesses globally, innovative strategies to attract investment are essential.

Secretary-General Rebeca Grynspan is making an earnest call to leave no one behind in the creative economy, a burgeoning sector of potential for the economy and society. “As I always say, talent is the best distributed thing in the world; what is not well distributed are the opportunities,” the UN Trade and Development (UNCTAD) chief notes in her remarks to the 4th World Conference on Creative Economy. The conference, held from 2-4 October in the Uzbekistani capital of Tashkent, centres around the theme “Inclusively Creative: A Shifted Reality”. As UN Trade and Development outlines in its latest Creative Economy Outlook, technological shifts – such as digitalization and artificial intelligence – profoundly impact the production and consumption of creative goods and services, generating opportunities for some and challenges for others working under informal and precarious conditions. Learn more: https://ow.ly/n8hS50TCk6X

I am grateful to the Government of Uzbekistan for their warm reception at the World Conference on Creative Economy 2024 in Tashkent. The creative economy contributes between 0.5 and 7.3 percent of the GDP and employs between 0.5 and 12.5 percent of the workforce in countries where data is available. Beyond these economic dynamics, the creative economy is a sector that nourishes the human spirit, enriching our lives with beauty, meaning and a sense of shared humanity. This important conference will harness the potential of inclusivity within the creative economy.

What are the best strategies and policies implemented at the national, regional, and international levels to effectively achieve structural transformation through domestic value addition in commodity-producing developing countries? Experts will discuss the strategic shift needed for these countries to transition from exporting raw materials to processing and manufacturing higher value-added products domestically, within the context of a just energy transition. Learn more: https://ow.ly/9jz250Ty94M

Turning water into fuel: The challenges of making green hydrogen cheaply.   The #WeeklyTradecast talks about a potential energy source that could play a vital role in the fight against climate change with economist and atmospheric physicist Robert Hamwey, who formerly worked at UN Trade and Development (UNCTAD).   Hydrogen is clean, green and abundant. But there are challenges – not least that it's expensive to make and often uses natural gas in the production process.   It is also very flammable. To liquefy it for shipping, it must be chilled to just shy of absolute zero. Energy companies already make most of the world’s hydrogen fuel, leaving critics to complain about vested interests.   Is hydrogen really an answer to our energy needs or just an expensive diversion? Listen in to Robert Hamwey to find out. https://ow.ly/NlUb50TBtHm

UN Trade and Development (UNCTAD) Deputy Secretary-General PEDRO MANUEL MORENO and UNDP Director for Latin America and the Caribbean Michelle Muschett discussed a joint initiative aimed at fostering inclusive economic growth in Latin America and the Caribbean. This partnership will specifically focus on enhancing coffee production and strengthening the value chain in the region. Together, we are committed to promoting sustainable development and economic empowerment across the region. _____ El Secretario General Adjunto de ONU Commercio y Desarrollo (UNCTAD), PEDRO MANUEL MORENO, y la Directora del PNUD en América Latina y el Caribe, Michelle Muschett, discutieron una iniciativa conjunta destinada a fomentar el crecimiento económico inclusivo en América Latina y el Caribe.   Esta asociación se centrará específicamente en mejorar la producción de café y fortalecer la cadena de valor en la región.   Juntos, estamos comprometidos con promover el desarrollo sostenible y el empoderamiento económico en América Latina y el Caribe.

Kenya will hold consultations with key development partners on October 3 to discuss how to implement its new "Holistic Productive Capacities Development Programme," developed by UN Trade and Development (UNCTAD). This initiative aims to transform Kenya’s economic future. Prime Cabinet Secretary Musalia Mudavadi, alongside other cabinet secretaries and senior officials, will meet with donors, United Nations representatives, private sector leaders, and other stakeholders to explore new ways to promote long-term, sustainable economic growth. “This programme marks a transformative moment for Kenya's economic future,” said Paul Akiwumi, UNCTAD's director for Africa, least developed countries and special programmes. “It’s about building strong economic foundations and empowering people, businesses and institutions to innovate, compete and thrive.” The urgency for a new development approach is clear, as past models based on commodities have often failed to deliver sustainable, inclusive growth in many countries, including Kenya. Learn more: https://ow.ly/xUSm50TBkgv