The Global Cooperation Barometer 2026

2013 14 15 16 17 18 19 20 21 22 23 242025e2025 indicators Goods traded volume GDP growth in real terms2.4%3.2% 2025 survey results2025 global goods trade volume vs. GDP , percentage of year-on-year (YoY) growthGlobal greenfield FDI announcements,1 percentage of GDP (indexed to 2020) Forum council members: How would you describe the state of global cooperation in trade and capital in 2025 compared to 2024? Executives: How has your company's ability to conduct business been affected, if at all, by changes in global cooperation in 2025 compared to 2024 in trade and capital? -76 -30 30% 55% 7% 8% 1% 7% 32% 6% 45% 1% 9%Net international migration, percentage of national populationPortfolio investment, percentage of national GDP (indexed to 2020)100150200 2021 22 23 24 202501.52.0 2013 14 15 16 17 18 19 20 21 22 23 242025e6080120 1.0 0.5100US UK EU US Germany Stayed the sameLess cooperativeMore cooperative Much more cooperativeMuch less cooperative Don’t knowSomewhat more difficultNeither easier nor more difficult Somewhat easierMuch more difficult Much easier Net sentiment score (positive minus negative answers); ppFIGURE 5 2025 overview of trade and capital – indicators and survey 1. First 5 months of 2025 data annualized to obtain 2025 figure. Sources: World Trade Organization (WTO); International Monetary Fund (IMF); fDi Markets; Federal Reserve Economic Data (FRED); UK Office for National Statistics; European Central Bank (ECB); National statistics accounts (US Census Bureau, Destatis); August 2025 Global Councils Survey, N=171 (finished responses); August 2025 Executive Survey N=799; McKinsey & Company analysis. The Global Cooperation Barometer 2026 14