Post by Trivium China

The Iran war is causing havoc for China’s trade with the Persian Gulf. Throughout March: 🔹 Imports of crude petroleum from the Persian Gulf – which accounted for 42% of China’s total crude imports last year – collapsed 34% y/y 🔹 Imports of liquefied petroleum gas fell 41% y/y Imports of Iranian oil do not appear in China’s official customs data – therefore the true extent of the Persian Gulf import decline is likely larger than the official figures suggest. Check out the full update from Trivium’s macro-econ analyst Joe Peissel here: https://lnkd.in/efSHE92A