A container ship is docked at the port of Jebel Ali in the southern outskirts of the Gulf emirate of Dubai, on June 18, 2020. Karim Sahib/AFP via Getty Images
Australia’s trade exposure to the escalating Middle East conflict amounts to roughly $15 billion (US$10.5 billion), but federal ministers warn the broader economic fallout could be far larger as global markets react to rising energy prices and geopolitical uncertainty.
Trade Minister Don Farrell said Australia’s direct trade links with the region remain relatively limited, though instability is already creating uncertainty for exporters.
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