The global plastics trade has more than doubled in value over the past two decades, reaching an estimated $1.13 trillion in 2023.
This is according to a new report by the United Nations Conference on Trade and Development (UNCTAD) titled “Global Trade Update (August 2025): Mobilising Trade to Curb Plastic Pollution”.
UNCTAD stated that plastics are now embedded across nearly every sector from raw polymer pellets to consumer-ready goods demonstrating the material’s deep integration into global supply chains.
In 2023 alone, UNCTAD noted, the volume of internationally traded plastics exceeded 323 million metric tons, with over 78% of total plastic production involved in cross-border trade.
“The value of plastics trades more than doubled since 2005 to $1.13 trillion reflecting its widespread use across all industries, from primary pellets to finished goods,” the report states.
However, the environmental consequences are dire.
According to UNCTAD, “75% of all plastic ever produced ends up as waste,” with coastal developing countries and Small Island Developing States (SIDS) bearing a disproportionate share of the burden often without being significant contributors to the pollution themselves.
The report also points to the viability of alternative materials, noting that “materials like paper, glass, aluminum, bamboo, natural fibers and seaweed tend to be biodegradable, erodible, compostable, recyclable, and have long been used legally and safely by industry and consumers.”
It adds that bio-based and compostable plastics though currently accounting for only 1.5% of global plastic production hold promise for reducing environmental impact, especially in developing markets where their growth potential is significant.
Calling for urgent international cooperation, UNCTAD stresses that “plastic pollution is a borderless crisis, and trade must be part of the solution.”
The agency advocates for a Global Plastic Treaty that would leverage trade and investment policies, along with digital customs tools, to facilitate a just transition toward reducing plastic pollution worldwide.
The Lagos State Government, on July 1, begun full enforcement of its ban on single-use plastics, warning that any shop, market, or outlet found storing, selling, or distributing Styrofoam packs, plastic straws, lightweight nylon bags, or disposable cutlery will be sealed, with offenders facing sanctions under Lagos State environmental laws.
The announcement was made by the Commissioner for the Environment and Water Resources, Tokunbo Wahab, during a press briefing in Lagos.
He added, “Let me also emphasize that any market, store, that is found storing or engaging in sale or distribution of the single-use plastic of less than 40 microns would be sealed up while the offenders would be punished according to the environmental laws of Lagos state.”
According to him, the government took the bold decision to ban Styrofoam and other harmful plastics for the safety and well-being of Lagos residents and would not compromise on its environmental responsibility.