Developing
Business·4/20/2026AI summary
China's Iran Imports Plunge 48% as Strait of Hormuz Disruption Reshapes Middle East Trade
Chinese customs data reveals dramatic trade disruption with Iran: imports fell 48% year-on-year while exports plummeted 90%. Across the broader Middle East, exports to eight Persian Gulf economies dropped 57% and imports declined 33%. The Strait of Hormuz closure curtailed crude flows, with China's oil imports from Gulf countries down 25% in March. Analysts warn the strait has become a permanent geopolitical lever with security premiums unlikely to ease even after any ceasefire.
S
SCMP Economy