Red Sea crisis to affect global trade: UNCTAD

Red Sea crisis to affect global trade: UNCTAD

The United Nations Conference on Trade and Development (UNCTAD) has issued a warning about the potential impact of the Red Sea shipping crisis on global trade. The crisis, caused by the blockage of the Suez Canal in March 2021, has created significant disruptions to maritime traffic and supply chains. According to UNCTAD, trade flows and global value chains are expected to be affected in the coming months, with a ripple effect on economies worldwide. The Red Sea crisis highlights the vulnerability of global trade to unexpected events and raises concerns about the need for resilient and diverse transportation routes.

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TIS Staff

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