Economy Local February 26, 2025

The Vital Role of Maritime Trade in Global Economy

International trade in goods occurs via land, sea, and air transport. Maritime trade is crucial for the global economy, constituting 90% of trade activities.


The Vital Role of Maritime Trade in Global Economy

International trade in goods is carried out using maritime, air, and land transport. Maritime trade is the main driver of the world economy. Due to the scale of this activity and its importance for the global economy, it is necessary to adopt international maritime laws, as well as major insurance measures and guaranteed safety standards in the marine environment, along with all marine-related processes.

The particular importance is expressed by the fact that, for example, 90% of this trade is carried out by maritime shipping routes. According to data for 2023, the global GDP amounted to 105.4 trillion dollars, while overall global trade in goods and services accounted for 30.5 trillion dollars or 28.9% of this total figure.