Foreign Trade
UNCTAD: Hidden Trade Barriers, Not Tariffs, Are Driving Export Costs Higher
UNCTAD warns that non-tariff measures—including technical rules, health and safety standards, and certification procedures—now exceed tariff costs in 88% of cases, making them the dominant driver of export costs. Least developed countries lose around 10% of their exports to G20 markets due to compliance requirements. Better transparency could reduce trade costs by 19%, while unreported requirements impose costs equivalent to a 28% tariff.