Strait of Hormuz trade plummets following Iranian military blockade

Tehran. Data from market analysis firm Kpler shows a significant decline in imports and exports through the 'Strait of Hormuz' in March, as Tehran tightened control over the vital waterway. Iran has emerged as the top exporter of goods passing through the strait.Iran is typically the fifth-largest exporter of crude oil, petroleum products, liquefied natural gas (LNG), and dry bulk goods including fertilizers.Exports from Saudi Arabia, the United Arab Emirates, Iraq, and Qatar through the strait fell by at least 96 percent in March compared to the previous 12-month average.Data also shows a 26 percent decline in Iranian shipments. Following...