India, Oct. 15 -- Africa and Latin America and the Caribbean, home to nearly two-thirds of global biodiversity, accounted for just 3% and 11%, respectively, of global biodiversity-based product exports in 2024, according to UNCTAD.

Global trade in approximately 1,800 biodiversity-based products reached $3.8 trillion in 2024, accounting for 17.3% of total merchandise trade, with European economies contributing 49% of exports.

Tariffs of up to 16.1% on some natural alternatives to plastics, along with certification and regulatory requirements, create barriers for developing-country exporters.

African countries exported raw gum arabic at an average price of $2.28 per kilogram but imported processed products at $6.50 per kilogram, highligh...