FACTBOX: Strait of Hormuz: economic effects of disruption

Mon Jan 7, 2008 9:24am EST
 
Email | Print | | Reprints | Single Page
[-] Text [+]

(Reuters) - Any military action in the Strait of Hormuz in the Gulf would knock out oil exports from OPEC's biggest producers, cut off the oil supply to Japan and South Korea and knock the booming economies of Gulf states.

Here are some key facts on what passes through the international waterway and some of the direct economic consequences of any attack on merchant shipping.

-- 2.9 billion deadweight tons passes through the strait every year.

-- Crude oil exported through the Strait rose to 750 million tons in 2006.

-- 27 percent of transits carry crude on oil tankers, rising to 50 percent if petroleum products, natural gas and Liquefied Petroleum Gas transits are included.

-- Transits for dry commodities like grains, iron ore and cement account for 22 percent of transits.

-- Container trade accounts for 20 percent of transits, carrying finished goods to Gulf countries.

Oil exports passing through Hormuz:

(2006 figures)  Continued...

 

Featured Broker sponsored link

Most Popular on Reuters

Photo
Bearing Witness
Reuters award-winning multimedia piece, reflecting five years of reporting the war in Iraq.