JERUSALEM (dpa-AFX) - The UN Economic and Social Commission for Western Asia, or ESCWA, says the Middle Est war is already inflicting heavy economic losses for the Arab region, estimated at $63 billion in the first two weeks.
If the war continues for a month, losses could reach nearly $150 billion, or 3.7 per cent of regional GDP.
Shipping through the Strait of Hormuz has fallen by up to 97 per cent, disrupting trade flows worth billions daily.
ESCWA warned that pre-existing vulnerabilities are deepening the impact, with Lebanon facing some of the most severe economic and humanitarian consequences as strikes continue.
ESCWA said the conflict is severely disrupting global trade routes, with reduced shipping through the Strait of Hormuz already causing an estimated $30 billion in trade losses over two weeks.
The shock is spreading through energy, aviation and financial systems, while rising fuel costs are increasing inflation and fiscal pressure in energy-importing countries.
Meanwhile, Qatar's energy minister Saad Sherida Al-Kaabi said that damage to its Ras Laffan energy complex will cost the country billions.
Iranian missile attack on Wednesday, targeting the world's largest liquefied natural gas plant, caused extensive damage.
He told Reuters that Qatar's LNG export capacity could fall by 17 percent following the attack, which would cost the country an estimated $20 billion in lost annual revenue and cut supplies to European and Asian countries.
Qatar exports about one fifth of the global supply of LNG, mostly from Ras Laffan, operated by state-run QatarEnergy.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
