The Middle East conflict poses a serious threat to global trade
The conflict in the Middle East is significantly affecting global trade flows. This was reported by Zamin.uz.
According to Stefan Pol, CEO of Kühne + Nagel, one of the leading companies in the logistics sector, the global air freight market has currently lost about 18 percent of its capacity. Pol warns that the new food reserves in Dubai may last only 10 days.
This situation poses a serious risk especially for perishable goods such as fruits and vegetables, as many countries in the region are heavily dependent on imports. If the conflict continues for a long time, logistics experts believe that serious disruptions may occur in the supply chain.
Transport through Saudi Arabia is theoretically possible, but the available capacity is not enough to fully cover the load of a single container ship. A standard container ship can carry up to 20,000 containers, and covering such volume by road transport is almost impossible.
In Europe, the impact of the war is relatively limited, mainly seen in rising energy prices and some disruptions in supply chains. Some stores in Dubai and other major trade centers have closed or are operating with minimal staff, which negatively affects business and tourism sectors.
