The seven visualisations that accompany this piece trace how global trade flows have reorganised over the past three years. The reorganisation is more substantial than the headline trade statistics imply.

Visualisation one

The bilateral trade volumes between the major economies have shifted in ways the underlying tariff policies would have predicted. The shifts have, however, been concentrated in specific product categories rather than spread evenly across all goods.

Visualisation two

Several intermediating jurisdictions have absorbed substantial increases in trade volume as supply chains have re-routed. The volume gains in Vietnam, Mexico, India, and several Eastern European economies are the cleanest evidence of the reorganisation.

Visualisation three

The product-category data shows that the reorganisation has been concentrated in technology-component supply chains, certain manufactured goods, and specific commodity categories.

Visualisation four

Service trade flows have followed a different pattern from goods trade. Specific service categories have grown across the period; others have moderated.

Visualisation five

Logistics-cost data shows that the reorganisation has produced increased shipping costs across most major routes. The cost increases are real but smaller than the headline disruption-coverage implied.

Visualisation six

The currency-flow data layered onto the trade flows shows the patterns the financial press has been tracking: continued dollar dominance in trade settlement, with specific bilateral arrangements emerging at the margins.

Visualisation seven

The aggregate composition of global trade is, on the data, more fragmented than at any point in the past two decades. The fragmentation is producing efficiency costs and resilience benefits in proportions that the trade-policy conversation has not yet adequately mapped.