UN Trade and Development (Unctad) has warned that the global ocean economy is under increasing pressure from environmental and international political shocks. This is of concern because of the importance of the ocean economy, it highlighted in its 'Global Trade Update June 2025' report.

“The ocean economy is not a niche,” warned Unctad. “It powers supply chains, supports jobs and food systems, and drives innovation worldwide. Amid rising tariffs and climate disruption, keeping ocean trade flowing sustainably is critical to global development.”

Between 1995 and 2020, the global ocean economy grew by 2.5 times. Over the same period, the total global economy grew by 1.9 times. In 2023, ocean-based economic sectors, including shipping, fisheries, marine energy and tourism, were responsible for 7% of global trade. Their total value came to $2.2-trillion, divided into $1.3-trillion in services and $900-billion in goods. An estimated 100-million jobs depended on the ocean economy.

But the future of the ocean economy is clouded. It wis being put under stress by a wide range of challenges and issues. On the environmental side, these include climate change, rising sea levels, plastic and other forms of pollution, overexploitation of marine life, and loss of biodiversity.  These factors are affecting coastal communities, marine transport and port infrastructure.

On the political side, imposition of new tariffs threatens to fragment global trade. There is a risk that maritime supply chains will be disrupted and investment diverted away from sustainable ocean economy sectors.

“Unctad urges action to modernise marine infrastructure, end subsidies that harm ocean ecosystems, close legal loopholes in open waters, and enable fairer trade between developing countries,” affirmed the agency. 

Unctad released its report in the run-up to the third United Nations Ocean Conference (UNOC3), to be held this month in Nice, in France. In that regard, Unctad highlighted five recommendations made by the UN Ocean Forum.

These were to – improve the governance of the oceans and of related ocean trade and economic data, as well as to improve early warning and risk monitoring; strengthen climate mitigation by means of climate-adaptive infrastructure, improved tracking of emissions and giving support to vulnerable countries; encourage market access, sustainable trade and south-south cooperation, particularly for developing nations and small-scale fishers; facilitate innovation regarding eco-friendly business environments and marine-based products; and increase the availability of blue finance, by means of instruments such as Blue Deal and One Ocean Finance Facility, while addressing harmful subsidies.