Regions
Who depends on the strait.
Country-by-country exposure to a Strait of Hormuz disruption. Each page carries a live headline metric (today's daily import value at risk, computed from current Brent against this region's import mix) and a static profile of suppliers, reserves, vulnerabilities, and mitigations.
China
China is the largest single importer of Hormuz crude in absolute terms, but its share of total imports (about 46%) is the lowest among major Asian importers because of overland Russian and Kazakh pipelines.
46%
crude via Hormuz
$378M
daily at risk
India
India's Hormuz exposure has changed shape, not size.
62%
crude via Hormuz
$214M
daily at risk
Japan
No major economy is more Hormuz-dependent than Japan.
88%
crude via Hormuz
$200M
daily at risk
Southeast Asia
Southeast Asia is the most heterogeneous case in this set.
38%
crude via Hormuz
$150M
daily at risk
South Korea
South Korea's exposure is structural in a different way from Japan's.
72%
crude via Hormuz
$143M
daily at risk
European Union
Europe's crude exposure to Hormuz is structurally low: Norway, the United States, and West Africa carry most of the import mix, and the post-2022 reshuffle accelerated that pattern.
14%
crude via Hormuz
$98M
daily at risk
United States
The United States is the major economy least directly exposed to a Hormuz closure.
7%
crude via Hormuz
$33M
daily at risk
Australia
Australia's direct Hormuz exposure is moderate, but the indirect exposure is the more interesting story.
24%
crude via Hormuz
$15M
daily at risk
Middle East
The Middle Eastern producers are the strait's origin, not its destination.
0%
crude via Hormuz
—
exporter · supply side of the strait