5th United Nations Ocean Forum on trade-related aspects of Sustainable Development Goal 14

Ocean economy, trade policy and the climate and development nexus

Covering 70% of Earth’s surface, the ocean is essential to all life. It sustains biodiversity, regulates the climate and generates oxygen while supporting food security, creating jobs and driving global trade.

But climate change, overfishing and pollution threaten marine ecosystems and the 600 million people worldwide who rely on fisheries for their livelihoods.

The 5th UN Ocean Forum, held in person and online, brough together more than 500 participants from 80 countries.

Opened by UN Secretary-General Rebeca Grynspan, it convened ministers, government representatives, experts, entrepreneurs, social and solidarity entities, civil society and international organizations to better align trade and economic policies with ocean sustainability and the sustainable use of marine resources.

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Ocean of opportunities threatened by rising risks

The forum highlighted the ocean economy’s rapid growth and emerging opportunities, particularly for developing countries and coastal communities.

• The ocean economy is outpacing other sectors, expanding 2.5 times since 1995 compared to 1.9 times for the global economy.

• Ocean trade in goods and services hit a record of $2.2 trillion in exports in 2023, showing a strong recovery from the COVID-19 pandemic.

• South-South trade in fisheries is surging, with primary fish exports growing 43% to $19 billion from 2021 to 2023, while processed fish exports soared 89% to $23 billion in the same period.

• Marine-based substitutes for plastics offer a $10.8 billion market opportunity that can help cut plastic pollution while creating new business avenues.

But discussions at the forum underscored major governance gaps and mounting environmental and climate pressures that threaten long-term sustainability.

• 2024 was the warmest year on record for seawater, with temperatures 1.55°C (exceeding the critical 1.5°C threshold) above pre-industrial levels, disrupting marine ecosystems. Rising sea levels jeopardize coastal infrastructure and shipping routes, affecting global trade.

• The ocean economy accounts for 11% of global CO2 emissions yet remains one of the least-funded Sustainable Development Goal areas. Goal 14 (live under water) requires $175 billion annually, but only $30 billion has been disbursed since 2010.

• $22 billion in harmful fishing subsidies continue to deplete fish stocks and threaten marine biodiversity.

Platform for change: Key forum outcomes

The forum featured five thematic sessions focused on trade trends, Nationally Determined Contributions for ocean sectors, South-South trade, innovative marine products and blue finance.

Forum partners organized side events exploring the links between trade policy, the ocean economy and climate action.

During three days, the forum provided a pivotal platform to shape global trade-related ocean policies. Key outcomes include:

• Delivering a set of coherent policy recommendations – in the form of a “Chair’s summary” by co-chairs France and Costa Rica – to the 2025 United Nations Ocean Conference in June, laying the groundwork for action-oriented voluntary commitments.

• Contributing to the Blue Economy and Finance Forum in June 2025 and the 16th UN Conference on Trade and Development (UNCTAD16) in October 2025.

• Coordinating global efforts to implement recommendations to support the emergence of sustainable ocean-based economies in small island developing states (SIDS) and coastal communities, in line with the UN Trade and Development (UNCTAD) SIDS strategy.

The forum also saw the launch of key initiatives, including:

• A renewed Ocean Trade Database with specific economic indicators under UNCTADstat, providing country-level data, indicators and visualization tools.

• An UNCTAD and UN DESA project on evidence-based ocean climate action, using artificial intelligence and data innovation to support Caribbean SIDS which has been deposited as a voluntary commitment under the UN Ocean Conference.

• A proposal for a UN task force on seaweed development, promoting the sustainable growth of the seaweed sector.

Participants called for strengthening maritime transport and port infrastructure to improve livelihoods and equity. They underscored the urgent need for a new “blue deal” to scale up public and private investment and finance in sustainable ocean sectors, which remain severely underfunded.