WTO says AI data centre boom is lifting global goods trade

In short: A surge in spending on AI data centres is boosting global trade in physical goods, according to the World Trade Organization.

What's going on

The World Trade Organization (WTO) says the rush to build AI systems is showing up in trade numbers faster than many economists expected. In October, the WTO forecast global trade in goods would grow 2.4% in 2025. In March, it raised that estimate to 4.6%, and pointed to the AI boom as a key reason.

A big part of that boom is construction of data centres, which are warehouses full of computers that run AI and other online services. The WTO estimated that AI-related investment accounted for almost half of goods trade growth in 2025. It also said AI spending made up about 70% of total investment growth in North America in the first three quarters of 2025.

This build-out depends heavily on imports. Research cited in the newsletter says AI investment has “import intensity” of 70% to 90%, meaning much of what gets bought comes from other countries. That is very different from normal construction, which relies on imports for less than 2% of its inputs.

The Financial Times report also notes that this surge is helping to offset, at least for now, the drag from President Donald Trump’s tariffs, which are taxes on imports.

What to watch

AI trade numbers are still fuzzy because there is no single agreed list of what counts as “AI-related” goods. Different groups include different items, from computer chips to cooling equipment. That makes it harder to judge how big the boom is, and what would happen to global trade if it slows.

Source: Financial Times