Sustainable trade
Sustainable Trade Index 2024
Published 22 October 2024
The Hinrich-IMD Sustainable Trade Index (STI) evaluates the ability of 30 global trading economies to engage sustainably in trade using 72 economic, societal, and environmental indicators. The 2024 Index emphasizes the need for building resilience in trade, human, and natural resources amid global trade fragmentation and highlights the significant strides some trading nations have made towards sustainable trade while identifying areas where improvement is essential.
About the STI 2024
The STI 2024 recognizes the profound interconnectedness of various global challenges and underscores the importance of building resilience in economic, societal, and environmental capital and resources. As the world grapples with unprecedented disruptions, from geopolitical tensions and economic volatility to climate change and public health crises, the need for a resilient trade system has never been more paramount.
By promoting transparent and sustainable trade practices, the index aims to contribute to a more inclusive and resilient global economy. It serves as a valuable tool for policymakers, businesses, and civil society to understand and navigate the complexities of global trade in a rapidly changing world, promoting a collaborative approach to overcoming global trade challenges.
Resources available for download:
- STI 2024 report
- Infographics
- Interactive index
- Economy profiles
- Press release
The key results for the 30 economies reviewed in the STI are presented in the main report. An interactive Excel workbook with the overall rankings and indicator rankings, economy profiles, and infographics are also available for download.
Top 10 STI economies and score
| Economy | Overall | Economic | Societal | Environmental | ||
|---|---|---|---|---|---|---|
| 1 |  |
New Zealand | 100.0 | 86.0 | 100.0 | 100.0 |
| 2 |  |
United Kingdom | 97.7 | 87.8 | 93.7 | 99.4 |
| 3 |  |
Australia | 87.4 | 75.4 | 99.6 | 83.2 |
| 4 |  |
Singapore | 85.7 | 92.4 | 87.0 | 75.2 |
| 5 |  |
Japan | 81.5 | 72.2 | 81.9 | 91.2 |
| 6 |  |
South Korea | 81.4 | 92.2 | 85.4 | 67.4 |
| 7 |  |
Hong Kong | 81.4 | 100.0 | 65.8 | 79.2 |
| 8 |  |
Canada | 80.0 | 81.1 | 99.8 | 61.0 |
| 9 |  |
Taiwan | 72.3 | 76.7 | 87.1 | 61.2 |
| 10 |  |
United States of America | 72.2 | 90.0 | 69.4 | 65.3 |
The STI underscores the importance of adopting a holistic view of trade—one that encompasses economic resilience, social equity, and environmental protection.
Building economic resilience
Economic resilience is the cornerstone of sustainable trade. The STI economic indicators evaluate factors such as trade diversification, digital infrastructure, and innovation capacity, reinforcing the importance of strategies that countries can adopt to improve economic stability and performance. This includes enhancing trade partnerships, investing in technology, and encouraging entrepreneurial ecosystems that can adapt to changing market conditions. Leading economies in this pillar are Hong Kong, Singapore, South Korea, the United States, and China.
Learn about the STI economic, societal, and environmental pillars
Enhancing workforce resilience
Societal well-being and the health of the workforce is integral to a resilient trade ecosystem. The 2024 edition introduces a new metric, Universal Health Coverage, which measures the accessibility and quality of essential health services. This indicator reflects the understanding that a healthy population is fundamental to economic productivity and social stability. The index also examines education, income equality, and labor standards, demonstrating that societal well-being is critical for sustainable growth. Top performers in this pillar include New Zealand, Canada, Australia, the United Kingdom, and Taiwan.
The race for resilience
Ensuring environmental protection
Environmental protection is crucial for long-term sustainability where environmental degradation poses significant risks to human life, trade, and economic stability. The STI advances the measurement of trade’s impact on non-renewable natural resources in trade and the management of externalities that arise from economic growth and participation in global trade. By encouraging the adoption of green technologies, sustainable resource management, and climate adaptation measures, the index guides nations towards practices that protect natural resources while supporting economic development. Exemplary economies in this category include New Zealand, the United Kingdom, the Philippines, Japan, and Mexico.
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Benchmarking sustainable practices and fostering global collaboration
The findings of the STI 2024 serve as a benchmark for economies to gauge their performance in sustainable trade by identifying gaps and recognizing achievements. By promoting transparent and sustainable trade practices, the index aims to contribute to a more inclusive and resilient global economy. It also serves as a valuable tool for policymakers, businesses, and civil society to understand and navigate the complexities of global trade in a rapidly changing world, fostering a collaborative approach to overcoming global trade challenges.
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