Number Theory: Economic fallout of the disruptions at Red Sea

According to official estimates released along with a joint statement by governments of 14 countries, as much as 15% of global seaborne trade passes through it

The Red Sea, which lies toward the south of the Suez Canal, is one of the busiest shipping routes in the world as it connects Europe to Asia. According to official estimates released along with a joint statement by governments of 14 countries including the US, the UK, Bahrain, Canada and Germany, as much as 15 percent of global seaborne trade passes through it. However, hundreds of ships have avoided this crucial trade route since November, fearing attacks from Iran-backed Houthi militants based in Yemen.

Stacks of containers at a freight port. (AFP Photo)

Economic fallout of the disruptions at Red Sea

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