China’s Export Growth Slows as Iran War Hits Global Trade and Oil Supply
Updated
Updated · Bloomberg · Apr 14
China’s Export Growth Slows as Iran War Hits Global Trade and Oil Supply
6 articles · Updated · Bloomberg · Apr 14
China’s export growth slowed sharply in March as the Iran war disrupted global energy supply.
Exports rose just 2.5% year-on-year, far below expectations, while imports surged nearly 28%, shrinking the trade surplus to a one-year low.
OPEC crude output also fell sharply due to the near-closure of the Strait of Hormuz, highlighting broader economic impacts from the conflict.
Can China's vast oil reserves truly insulate its economy from a prolonged global supply disruption?
What critical global supply chains, beyond oil, are most at risk from the Hormuz closure?
With Middle East energy cut off, can nations prevent a severe global recession?
How will the Hormuz blockade reshape long-term global energy trade routes and alliances?
Is China's economic crisis a temporary shock or the end of its export-led growth model?
Will the worst energy shock in history finally accelerate the global shift to renewable energy?
China Faces Inflation Surge and Supply Chain Crisis as Iran’s Strait of Hormuz Closure Disrupts Global Trade
Overview
In early 2026, Iran's closure of the Strait of Hormuz triggered the worst global energy shock in history, sharply increasing energy costs and disrupting vital shipping routes. This blockade caused China's export growth to slow in March despite strong demand for new energy vehicles and AI technology. To cope, China accelerated energy diversification, increased Russian oil imports, and drew down its strategic reserves. The crisis also cut global sulphur supplies, leading China to halt sulphuric acid exports, which in turn disrupted mining and fertilizer production worldwide. These supply chain shocks intensified inflation and weakened global demand, posing significant risks to China's economy and prompting a strategic shift toward resilience and green energy investments.