Stock photo: A view of the Devon, an oil tanker transferring oil from the Persian Gulf, in March 2018. 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.

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