The spread of digital technologies is transforming all types of global flows—those of goods, services, money, and people—and this transformation is only in its earliest stages. Already, more and more of people across the globe engage in instantaneous cross-border exchanges of digital goods, from books and music to design files that enable 3-D printing of physical objects. As the infrastructure that supports the Internet expands, barriers of distance and cost that once seemed insurmountable have begun to fall away. Digital trade represents an important, albeit hard-to-measure, component of these global flows. As it grows, develops, and assumes new forms, it is both facilitating globalisation and transforming it. Digitisation lowers marginal production and distribution costs, while broadening access to global commerce. The cost of participating in trade is reduced not just for large companies, but also for individuals, small firms, and entrepreneurs. This is already spurring innovations in business models and spawning the emergence of micro-multinationals, micro-work, and micro-supply chains that are able to tap into global opportunities.