UNCTAD’s new dashboard tracks risks across shipping, energy, food and finance as shocks from the Strait of Hormuz ripple through the global economy.
What began as a disruption to shipping in one of the world’s most important sea lanes has become a broader development threat.
Since early March, the United Nations Trade and Development Organization (UNCTAD) has warned that disruptions in the Strait of Hormuz are having a much greater impact on energy markets. The strait carries about a quarter of the world’s seaborne oil trade, as well as large quantities of liquefied natural gas and fertilizer – commodities that directly fuel transportation costs, food production, and inflation.
The ripple effects hit hard
The turmoil deepened quickly. Ship crossings through the Strait fell by about 95%, while oil and gas prices, tanker freight rates, marine fuel costs and war risk insurance premiums rose sharply. By April 1, UNCTAD warned that the shock was being fed through trade, prices and finance, with developing economies facing weaker currencies, lower stock prices, and higher external borrowing costs.
The effect also moved from gas to grains. UNCTAD’s analysis shows that energy and fertilizer outages increase risks to food production, supplies and prices, especially for countries already vulnerable to rising import bills, debt pressures and limited fiscal space.
New dashboard to track impact
To help track these risks, UNCTAD is launching the Strait of Hormuz Dashboard. The platform collects regularly updated indicators on shipping, food, energy and finance, helping users monitor how shocks develop and compare to previous crises such as Covid-19 and supply disruptions after the start of the war in Ukraine.
The dashboard is designed to show not only individual pressures, but how they can reinforce each other. High energy costs could lead to higher prices for fertilizers and foodstuffs. High transportation costs can lead to higher import bills. Tighter financial conditions could limit countries’ ability to respond.
UNCTAD’s latest global trade update shows why this matters now: global trade has entered 2026 with momentum, but rising vulnerabilities – including geopolitical uncertainty, inflationary pressures, and rising trade costs – are weighing on developing economies’ prospects for investment, demand and development.
Source: UNCTAD
