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UNCTAD: Strait of Hormuz Disruptions Hit SMEs
The UN Conference on Trade and Development (UNCTAD) report discusses the significant damages that small and medium-sized enterprises (SMEs) may suffer as a result of disruptions in the Strait of Hormuz, stemming from the escalation of the conflict between the United States and Iran. Rising energy prices, shipping costs, insurance expenses, and financial constraints are all contributing to the deterioration of these businesses, which represent 90% of companies worldwide, 70% of employment, and 50% of GDP. The report warns that such disruptions could lead to the exclusion of SMEs from supply chains, decreased production, postponed investments, and even market exits, thereby threatening the resilience of global trade and increasing the dominance of large corporations. Additionally, the intensification of fighting in the Gulf has led to higher oil prices and a decline in shipping activity, deepening the economic impact on SMEs, especially amid rising costs and declining investments.
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