Global trade hit a record $33 trillion in 2024, expanding 3.7% ($1.2 trillion), according to the UN Trade
- According to the Atlantic Council, roughly 54% of global trade invoices are in USD, despite the U.S. accounting for only ~10% of world trade. Implying that ~$17 trillion of trade transactions are billed in USD annually. This equates to on the order of $1.4 trillion per month in dollar-denominated import/export payments
- For the euro, ~30% of global trade invoices are in EUR, meaning $9.9 trillion annually. However, this share is significantly higher due to intra-EU trade being mostly in euros.
- The yen and renminbi only account for about 4% of global trade invoicing.
- Over the period 1999-2019, the dollar accounted for 96 percent of trade invoicing in the Americas, 74 percent in the Asia-Pacific region, and 79 percent in the rest of the world. The only exception is Europe, where the euro is dominant.
