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IMF: Attacks in the Red Sea caused shipping traffic to decrease by 30%

Israel-Gaza War Updates

31-01-2024 | 11:12

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IMF: Attacks in the Red Sea caused shipping traffic to decrease by 30%

The International Monetary Fund (IMF) announced on Wednesday that attacks in the Red Sea have led to a 30% decrease in shipping activity this year, attributed to the ongoing attacks by Yemeni rebels on commercial vessels.

Jihad Azour, the Director of the Middle East and Central Asia Department at the IMF, stated, "The significant movement in the Red Sea in terms of container shipping has declined by approximately 30%," noting that "the decline in trade has accelerated at the beginning of this year."

AFP

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