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\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8px;text-align:left;vertical-align:top;border-bottom:1px solid;border-color:inherit}#nxe-nr-gcri-editions-sr-03-coupled-system.nxe svg{display:none}#nxe-nr-gcri-editions-sr-03-coupled-system.nxe svg.nx-i{display:inline-block;width:18px;height:18px;vertical-align:-3px}#nxe-nr-gcri-editions-sr-03-coupled-system.nxe :where([role=\"tablist\"],[role=\"toolbar\"],[hidden],button,.nx-theme-toggle,.nx-live-slot){display:none}#nxe-nr-gcri-editions-sr-03-coupled-system.nxe img{max-width:100%;height:auto}<\/style><svg class=\"nx-defs\" aria-hidden=\"true\" focusable=\"false\" width=\"0\" height=\"0\"><defs><linearGradient id=\"nx-gi\" x1=\"0\" y1=\"0\" x2=\"1\" y2=\"1\"><stop offset=\"0\" class=\"nx-gi-a\"\/><stop offset=\"0.55\" class=\"nx-gi-b\"\/><stop offset=\"1\" class=\"nx-gi-c\"\/><\/linearGradient><linearGradient id=\"nx-giu\" gradientUnits=\"userSpaceOnUse\" x1=\"0\" y1=\"0\" x2=\"800\" y2=\"0\"><stop offset=\"0\" class=\"nx-gi-a\"\/><stop offset=\"0.55\" class=\"nx-gi-b\"\/><stop 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Not indexed until the first approved release.<\/p><div class=\"nrp-reader\"><nav class=\"nrp-rail\" aria-label=\"Contents of Global Supply Chains, Trade and Chokepoints 2026\"><p class=\"nf-ui-eyebrow\">Contents<\/p><ol class=\"nrp-toc\"><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/\"><span class=\"nrp-toc-n\">\u00b7<\/span><span>Edition home<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/summary\/\"><span class=\"nrp-toc-n\">\u00b7<\/span><span>Executive summary<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/coupled-system\/\" aria-current=\"page\"><span class=\"nrp-toc-n\">1<\/span><span>Trade moves through a few narrow places<\/span><\/a><ol class=\"nrp-toc-sub\"><li><a href=\"#nx-nrp-sr-03-c1-s1\">1.1 The questions this part answers<\/a><\/li><li><a href=\"#nx-nrp-sr-03-c1-s2\">1.2 The argument<\/a><\/li><li><a href=\"#nx-nrp-sr-03-c1-s3\">1.3 Twenty couplings between five systems<\/a><\/li><\/ol><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/findings\/\"><span class=\"nrp-toc-n\">2<\/span><span>Key findings<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/systems-and-sectors\/\"><span class=\"nrp-toc-n\">3<\/span><span>Systems and sectors at baseline<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/risk-and-capability\/\"><span class=\"nrp-toc-n\">4<\/span><span>Risks and capability<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/scenario\/\"><span class=\"nrp-toc-n\">5<\/span><span>A chokepoint closure that overlaps a Red Sea diversion and high freight rates<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/lenses-and-readings\/\"><span class=\"nrp-toc-n\">6<\/span><span>Readings from the other desks<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/agenda\/\"><span class=\"nrp-toc-n\">7<\/span><span>The 2027 agenda<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/systems-in-depth\/\"><span class=\"nrp-toc-n\">8<\/span><span>Systems in depth<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/methodology\/\"><span class=\"nrp-toc-n\">A<\/span><span>Methodology<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/data\/\"><span class=\"nrp-toc-n\">B<\/span><span>Data appendix<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/references\/\"><span class=\"nrp-toc-n\">C<\/span><span>References and record<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/full\/\"><span class=\"nrp-toc-n\">\u00b7<\/span><span>Complete edition, for print<\/span><\/a><\/li><\/ol><div class=\"nrp-actions\"><a class=\"nf-ui-btn\" data-variant=\"secondary\" href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/full\/\"><svg class=\"nrp-i\" viewBox=\"0 0 24 24\" aria-hidden=\"true\" focusable=\"false\"><path d=\"M6 18H4a2 2 0 0 1-2-2v-5a2 2 0 0 1 2-2h16a2 2 0 0 1 2 2v5a2 2 0 0 1-2 2h-2\"\/><path d=\"M6 9V3a1 1 0 0 1 1-1h10a1 1 0 0 1 1 1v6\"\/><rect x=\"6\" y=\"14\" width=\"12\" height=\"8\" rx=\"1\"\/><\/svg>Print or save as PDF<\/a><\/div><\/nav><article class=\"nrp-flow\" aria-labelledby=\"nx-nrp-sr-03-c1-top\"><header class=\"nrp-chap-head\" id=\"nx-nrp-sr-03-c1-top\"><ul class=\"nrp-eyerow\"><li class=\"nf-ui-eyebrow\"><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/\">Global Supply Chains, Trade and Chokepoints 2026<\/a><\/li><li class=\"nf-ui-eyebrow\">Chapter 1<\/li><\/ul><span class=\"nrp-rule\" aria-hidden=\"true\"><\/span><h1 class=\"pp-hero-title\">Trade moves through a few narrow places<\/h1><p class=\"nrp-lede\">Part I describes systems and their couplings. It ranks no country or operator and assesses no authority.<\/p><p class=\"nrp-chap-meta\"><span>7 min read<\/span><span>2 figures<\/span><span>1 table<\/span><span>13 notes<\/span><span>NR-STRATEGIC-SUPPLYCHAINS-GLOBAL-2026-BASELINE<\/span><\/p><details class=\"nrp-toc-m\"><summary>Contents<\/summary><ol class=\"nrp-toc\"><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/\"><span class=\"nrp-toc-n\">\u00b7<\/span><span>Edition home<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/summary\/\"><span class=\"nrp-toc-n\">\u00b7<\/span><span>Executive summary<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/coupled-system\/\" aria-current=\"page\"><span class=\"nrp-toc-n\">1<\/span><span>Trade moves through a few narrow places<\/span><\/a><ol class=\"nrp-toc-sub\"><li><a href=\"#nx-nrp-sr-03-c1-s1\">1.1 The questions this part answers<\/a><\/li><li><a href=\"#nx-nrp-sr-03-c1-s2\">1.2 The argument<\/a><\/li><li><a href=\"#nx-nrp-sr-03-c1-s3\">1.3 Twenty couplings between five systems<\/a><\/li><\/ol><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/findings\/\"><span class=\"nrp-toc-n\">2<\/span><span>Key findings<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/systems-and-sectors\/\"><span class=\"nrp-toc-n\">3<\/span><span>Systems and sectors at baseline<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/risk-and-capability\/\"><span class=\"nrp-toc-n\">4<\/span><span>Risks and capability<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/scenario\/\"><span class=\"nrp-toc-n\">5<\/span><span>A chokepoint closure that overlaps a Red Sea diversion and high freight rates<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/lenses-and-readings\/\"><span class=\"nrp-toc-n\">6<\/span><span>Readings from the other desks<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/agenda\/\"><span class=\"nrp-toc-n\">7<\/span><span>The 2027 agenda<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/systems-in-depth\/\"><span class=\"nrp-toc-n\">8<\/span><span>Systems in depth<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/methodology\/\"><span class=\"nrp-toc-n\">A<\/span><span>Methodology<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/data\/\"><span class=\"nrp-toc-n\">B<\/span><span>Data appendix<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/references\/\"><span class=\"nrp-toc-n\">C<\/span><span>References and record<\/span><\/a><\/li><li><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/full\/\"><span class=\"nrp-toc-n\">\u00b7<\/span><span>Complete edition, for print<\/span><\/a><\/li><\/ol><\/details><\/header><section class=\"nrp-block\" id=\"nx-nrp-sr-03-c1-s1\" aria-labelledby=\"nx-nrp-sr-03-c1-s1-h\"><h2 class=\"nrp-h2\" id=\"nx-nrp-sr-03-c1-s1-h\"><span class=\"nrp-num\">1.1<\/span><span>The questions this part answers<\/span><\/h2><h3 class=\"nrp-h3\">Key questions<\/h3><ul class=\"nrp-list\"><li>Where is supply chains and chokepoints risk concentrated?<\/li><li>Which couplings carry supply chains and chokepoints shocks into other <a class=\"nx-link nx-term\" href=\"https:\/\/docs.therisk.global\/organization\/systems\" data-tc=\"Systems\" data-tk=\"Nexus Standards\" data-td=\"The twenty Nexus systems, NXS-CMD to NXS-LAB\">systems<\/a>?<\/li><li>Which supply chains and chokepoints capabilities hold under compound stress?<\/li><li>What must 2027 evidence measure first?<\/li><\/ul><h3 class=\"nrp-h3\">In this part<\/h3><ul class=\"nrp-chips\"><li class=\"nf-ui-chip\">Narrative<\/li><li class=\"nf-ui-chip\">Headline finding<\/li><li class=\"nf-ui-chip\">Lead figure<\/li><li class=\"nf-ui-chip\">Five mechanism chapters<\/li><li class=\"nf-ui-chip\">Twelve-domain reading<\/li><li class=\"nf-ui-chip\">Sector screens<\/li><li class=\"nf-ui-chip\">Dependency matrix<\/li><li class=\"nf-ui-chip\">Risk objects<\/li><li class=\"nf-ui-chip\">Capability ladder<\/li><li class=\"nf-ui-chip\">Scenario<\/li><li class=\"nf-ui-chip\">Three lenses<\/li><li class=\"nf-ui-chip\">Portfolio<\/li><\/ul><\/section><section class=\"nrp-block\" id=\"nx-nrp-sr-03-c1-s2\" aria-labelledby=\"nx-nrp-sr-03-c1-s2-h\"><h2 class=\"nrp-h2\" id=\"nx-nrp-sr-03-c1-s2-h\"><span class=\"nrp-num\">1.2<\/span><span>The argument<\/span><\/h2><div class=\"nrp-prose\"><p>Global trade is usually reported as flows between countries. The 2024 to 2026 evidence reads it as a network with narrow places: straits, canals and a few processing hubs. Ships carry most of the world\u2019s goods, and the routes they take decide cost, time and exposure<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n1\" id=\"nx-nrp-sr-03-c1-r1\" aria-label=\"Note 1\">1<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n4\" id=\"nx-nrp-sr-03-c1-r4\" aria-label=\"Note 4\">4<\/a><\/sup>.<\/p><p>The causes repeat. Attacks on vessels moved Red Sea traffic around Africa in 2024<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n1\" aria-label=\"Note 1\">1<\/a><\/sup>. Low water levels cut Panama Canal transits until mid-2024<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n1\" aria-label=\"Note 1\">1<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n4\" aria-label=\"Note 4\">4<\/a><\/sup>. A war closed the Strait of Hormuz to most traffic from March 2026<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n5\" id=\"nx-nrp-sr-03-c1-r5\" aria-label=\"Note 5\">5<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n46\" id=\"nx-nrp-sr-03-c1-r46\" aria-label=\"Note 46\">46<\/a><\/sup>. Export licences govern a set of rare earth elements<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n22\" id=\"nx-nrp-sr-03-c1-r22\" aria-label=\"Note 22\">22<\/a><\/sup>.<\/p><p>The effects reach beyond shipping. About one fifth of oil and LNG and about one third of seaborne fertiliser normally pass through Hormuz<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n7\" id=\"nx-nrp-sr-03-c1-r7\" aria-label=\"Note 7\">7<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n8\" id=\"nx-nrp-sr-03-c1-r8\" aria-label=\"Note 8\">8<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n6\" id=\"nx-nrp-sr-03-c1-r6\" aria-label=\"Note 6\">6<\/a><\/sup>. Urea prices rose 52 percent in the United States and 60 percent in Brazil by mid-April 2026<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n17\" id=\"nx-nrp-sr-03-c1-r17\" aria-label=\"Note 17\">17<\/a><\/sup>.<\/p><p>Aggregate trade has held up. The WTO March 2026 baseline put 2026 merchandise volume growth at 1.9 percent after 4.6 percent in 2025, and 72 percent of merchandise trade still runs on MFN terms<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n13\" id=\"nx-nrp-sr-03-c1-r13\" aria-label=\"Note 13\">13<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n15\" id=\"nx-nrp-sr-03-c1-r15\" aria-label=\"Note 15\">15<\/a><\/sup>. The edition therefore asks four questions of every event: what was the common cause, how did it spread, what was shared, and what threshold was crossed. It makes no attribution and ranks no route.<\/p><\/div><figure class=\"nrp-fig\" id=\"nx-nrp-sr-03-c1-fig1\" aria-labelledby=\"nx-nrp-sr-03-c1-fig1-t\"><figcaption class=\"nrp-figcap\"><span class=\"nf-ui-eyebrow\">Figure 1.1<\/span><span class=\"nf-ui-title\" data-level=\"card\" id=\"nx-nrp-sr-03-c1-fig1-t\">How did the WTO see 2026 trade in March? Merchandise volume growth, percent<\/span><p class=\"nrp-fig-what\">The March 2026 baseline put 2026 growth at 1.9 percent, after 4.6 percent in 2025, and 1.4 percent if high energy prices persist. The bars are an estimate and two forecasts and are not added<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n13\" aria-label=\"Note 13\">13<\/a><\/sup>.<\/p><\/figcaption><div class=\"nrp-tblw\"><table class=\"nrp-tbl nrp-bars\"><thead><tr><th scope=\"col\">Item<\/th><th scope=\"col\"><span class=\"nrp-sr\">Bar, scaled to the largest value<\/span><\/th><th scope=\"col\">Value<\/th><\/tr><\/thead><tbody><tr><th scope=\"row\">2025 estimate<\/th><td class=\"nrp-barc\"><svg class=\"nrp-svg nrp-barsvg\" viewBox=\"0 0 100 8\" preserveAspectRatio=\"none\" aria-hidden=\"true\" focusable=\"false\"><rect class=\"nrp-track\" x=\"0\" y=\"0\" width=\"100\" height=\"8\"\/><rect class=\"nrp-bar\" x=\"0\" y=\"0\" width=\"100.0\" height=\"8\"\/><\/svg><\/td><td class=\"nrp-mono\">4.6<\/td><\/tr><tr><th scope=\"row\">March 2026 baseline<\/th><td class=\"nrp-barc\"><svg class=\"nrp-svg nrp-barsvg\" viewBox=\"0 0 100 8\" preserveAspectRatio=\"none\" aria-hidden=\"true\" focusable=\"false\"><rect class=\"nrp-track\" x=\"0\" y=\"0\" width=\"100\" height=\"8\"\/><rect class=\"nrp-bar\" x=\"0\" y=\"0\" width=\"41.3\" height=\"8\"\/><\/svg><\/td><td class=\"nrp-mono\">1.9<\/td><\/tr><tr><th scope=\"row\">March 2026 high-energy-price case<\/th><td class=\"nrp-barc\"><svg class=\"nrp-svg nrp-barsvg\" viewBox=\"0 0 100 8\" preserveAspectRatio=\"none\" aria-hidden=\"true\" focusable=\"false\"><rect class=\"nrp-track\" x=\"0\" y=\"0\" width=\"100\" height=\"8\"\/><rect class=\"nrp-bar\" x=\"0\" y=\"0\" width=\"30.4\" height=\"8\"\/><\/svg><\/td><td class=\"nrp-mono\">1.4<\/td><\/tr><\/tbody><\/table><\/div><p class=\"nrp-fig-src\">Source: as cited in the note to this figure. Year 2026.<\/p><p class=\"nrp-fig-src\">Figure ID FIG-STRATEGIC-SUPPLYCHAINS-GLOBAL-2026-BASELINE-01-003<\/p><\/figure><div class=\"pp-cells nrp-cells-3\"><div class=\"nrp-cell\"><span class=\"pp-metric\">1.9<\/span><span class=\"nrp-cell-u\">%<\/span><p>March 2026 baseline, 2026<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n13\" aria-label=\"Note 13\">13<\/a><\/sup><\/p><\/div><div class=\"nrp-cell\"><span class=\"pp-metric\">1.4<\/span><span class=\"nrp-cell-u\">%<\/span><p>high-energy-price case, 2026<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n13\" aria-label=\"Note 13\">13<\/a><\/sup><\/p><\/div><div class=\"nrp-cell\"><span class=\"pp-metric\">4.6<\/span><span class=\"nrp-cell-u\">%<\/span><p>merchandise volume growth, 2025<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n13\" aria-label=\"Note 13\">13<\/a><\/sup><\/p><\/div><div class=\"nrp-cell\"><span class=\"pp-metric\">\u22129.7<\/span><span class=\"nrp-cell-u\">%<\/span><p>Middle East export volumes, first quarter 2026, year on year<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n14\" id=\"nx-nrp-sr-03-c1-r14\" aria-label=\"Note 14\">14<\/a><\/sup><\/p><\/div><\/div><\/section><section class=\"nrp-block\" id=\"nx-nrp-sr-03-c1-s3\" aria-labelledby=\"nx-nrp-sr-03-c1-s3-h\"><h2 class=\"nrp-h2\" id=\"nx-nrp-sr-03-c1-s3-h\"><span class=\"nrp-num\">1.3<\/span><span>Twenty couplings between five systems<\/span><\/h2><p class=\"nrp-stand\">The supply chains and chokepoints-centred matrix types the twenty couplings between the five core <a class=\"nx-link nx-term\" href=\"https:\/\/docs.therisk.global\/organization\/systems\" data-tc=\"Systems\" data-tk=\"Nexus Standards\" data-td=\"The twenty Nexus systems, NXS-CMD to NXS-LAB\">systems<\/a>, read for their supply chains and chokepoints content. Strengths are Nexus estimates (ESTIMATED) from the cited evidence and analogue events; they set the graph that 2027 evidence will test.<\/p><figure class=\"nrp-fig\" id=\"nx-nrp-sr-03-c1-fig2\" aria-labelledby=\"nx-nrp-sr-03-c1-fig2-t\"><figcaption class=\"nrp-figcap\"><span class=\"nf-ui-eyebrow\">Figure 1.2<\/span><span class=\"nf-ui-title\" data-level=\"card\" id=\"nx-nrp-sr-03-c1-fig2-t\">Couplings between the five systems<\/span><p class=\"nrp-fig-what\">Each line is one coupling from one system to another, drawn by the strength the edition assigns. Strengths are Nexus estimates from the cited evidence and analogue events.<\/p><\/figcaption><svg class=\"nrp-svg nrp-ring\" viewBox=\"0 0 340 340\" role=\"img\" aria-label=\"Coupling ring: 20 typed couplings between water, energy, food, health and biodiversity. The matrix in the next table carries every value.\" data-nx-z=\"rZZbb5swFID\/isUzdcBcAhNE6rTsol2qbpX67GEHrLoY2WZZ9sf2vl82GSeFNCxZSl4QMkecj+OPc5w1WFeg4Fip3Kllc0VJSR1AsMZX69y5X15\/dADJnc\/+3IOeGyTQA7conMPQjQMYAZRGMHJ9lELkAKWleKBXa0Z0lTv+0wLBqsJS4k3uBCB0FplmmtPFPdZUAi3Asqay3LwC6+X1RwgKITiry2xmo7KZQVxkx0E\/37xZfr2+W47Deq4fRtAD5j520TyGyQEtRNEh2VshyCvwuH05BExKVmLNRA3+\/AaNFAVV6oKwfpzC0DXXBKQIhuewvqeY62pIq\/CKAtU2Dd8Y3EqohmnM1Xm04w74yIeJ63sBnIMwnO7AayYI+0GlYvrJhBUXazWltAM7wS3yE4i2xP2XHK2tFdPgdZzD2jbtY8Pq0tSVUIU5qzstzqP9dvf15su7MdY0gshFvgfnx6RFcIzVSqu6d0Owaik3lCsqNeNMUQlWlBKlRfFg1gvBCSgqzC7G7ne8QQSjIw6Po+8cfoKXlJWVHtq7FfqlDu+hWg26n26KxD3\/mMUc1wS0ir6YuN9\/SxxvG8QRiU8RG0UGWlvQNdMVkXg9oUPssaIwMdVNIxhMmhM72P0x8Z0Jo\/a0\/vC8tJ4beD6M\/7f37sgOW2\/dasl2c2Jlwkwz1pvLSIA6vO4Pm6Dtjv6f0hai7pbPbWs9dl9HcJsGT3N4grm21IfuCvmwErKglyA1eKFrrtMOOD3rvroXh\/VcFKET55v\/h7XzY+fBd9HKS3CGIUy2E22Csz3lmLWSKkZa+uL21YOB2xTB2J5xJ9g6hDxwtsa6lZgDVq8kVlq2hW4lvQS7JU5So8QEf5\/T71tcbYgUXJSbixDHqZlr9pebYPFz5KHLjeAvO6b9U5DddDsyLs4F3o0Si\/xLiFqoQ6HLIWwtCHUWWcFkwSkofuZOt\/8OKEyuTluZOyh2ZotM058a9BGb3AmRuTHrV7guKiFz55ERwqmzuL++y2bmySKblSeTdqbZpFvdDrJuQ0xEEJiI0bTLL8tz0hpbbNrtDhymtSEmIvFMxGjatzc3Z6Q1W348q404kfT9p3NKbPQ7XmEbcaLArz8Mv\/Qv\"><\/svg><ul class=\"nrp-legend\"><li><span class=\"nrp-key\" data-w=\"STRONG\"><\/span>Strong<\/li><li><span class=\"nrp-key\" data-w=\"MODERATE\"><\/span>Moderate<\/li><li><span class=\"nrp-key\" data-w=\"WEAK\"><\/span>Weak<\/li><\/ul><p class=\"nrp-fig-src\">Source: this edition&#8217;s coupling matrix (Table 1.1); status Estimated.<\/p><\/figure><div class=\"nrp-tblw\" id=\"nx-nrp-sr-03-c1-tab1\"><table class=\"nrp-tbl\"><caption><span class=\"nf-ui-eyebrow\">Table 1.1<\/span><span class=\"nrp-tbl-t\">Coupling matrix: from the row system to the column system<\/span><\/caption><thead><tr><th scope=\"col\">From, to<\/th><th scope=\"col\">WAT<\/th><th scope=\"col\">ENE<\/th><th scope=\"col\">FOO<\/th><th scope=\"col\">HLT<\/th><th scope=\"col\">BIO<\/th><\/tr><\/thead><tbody><tr><td><b>WAT<\/b> Water<\/td><td><span aria-label=\"same system\">\u00b7<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">cooling<\/span><\/td><td>MODERATE<br><span class=\"nrp-cell-u\">irrigation \u00b7 processing<\/span><\/td><td>MODERATE<br><span class=\"nrp-cell-u\">safe supply \u00b7 hospitals<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">flows<\/span><\/td><\/tr><tr><td><b>ENE<\/b> Energy<\/td><td>MODERATE<br><span class=\"nrp-cell-u\">pumping \u00b7 desalination<\/span><\/td><td><span aria-label=\"same system\">\u00b7<\/span><\/td><td>STRONG<br><span class=\"nrp-cell-u\">fuel \u00b7 fertiliser feedstock \u00b7 cold chain<\/span><\/td><td>STRONG<br><span class=\"nrp-cell-u\">freight \u00b7 hospital supply<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">land use<\/span><\/td><\/tr><tr><td><b>FOO<\/b> Food<\/td><td>WEAK<br><span class=\"nrp-cell-u\">withdrawals<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">biofuels<\/span><\/td><td><span aria-label=\"same system\">\u00b7<\/span><\/td><td>MODERATE<br><span class=\"nrp-cell-u\">nutrition \u00b7 food safety<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">land conversion<\/span><\/td><\/tr><tr><td><b>HLT<\/b> Health<\/td><td>WEAK<br><span class=\"nrp-cell-u\">workforce<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">workforce<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">labour<\/span><\/td><td><span aria-label=\"same system\">\u00b7<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">residues<\/span><\/td><\/tr><tr><td><b>BIO<\/b> Biodiversity<\/td><td>WEAK<br><span class=\"nrp-cell-u\">natural infrastructure<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">hydrology<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">pollination<\/span><\/td><td>WEAK<br><span class=\"nrp-cell-u\">zoonoses<\/span><\/td><td><span aria-label=\"same system\">\u00b7<\/span><\/td><\/tr><\/tbody><tfoot><tr><td colspan=\"6\">Strength: strong, moderate or weak; a Nexus estimate (status Estimated) from cited evidence and analogue events. The scale is defined in Annex A.<\/td><\/tr><\/tfoot><\/table><\/div><h3 class=\"nrp-h3\">Transmission paths<\/h3><ol class=\"nrp-rows\"><li><span class=\"nrp-rows-i\">01<\/span><p class=\"nrp-rows-t\">ENE \u2192 FOO<\/p><p class=\"nrp-rows-x\">A <a class=\"nx-link nx-term\" href=\"https:\/\/nexustandards.com\/standards\/nrs\/#nrs-h60\" data-tc=\"NHS-1 sys.supply-chain.chokepoint-blockage\" data-tk=\"Systemic and compound events \u00b7 Supply-chain and flow disruption\" data-td=\"Closure of a narrow route on which much trade depends, such as a strait, canal, pass or bridge.\" data-ts=\"NRS-H60\" data-tr=\"draft\" data-tx=\"https:\/\/risksindex.com\/hazards\/sys\/\" data-txl=\"Systemic and compound events\">strait closure<\/a> removes fuel and fertiliser inputs together.<\/p><p class=\"nrp-rows-m\"><span class=\"nrp-st\"><span class=\"nf-ui-dot\" data-tone=\"info\" aria-hidden=\"true\"><\/span>Reported<\/span> 2026 Hormuz<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n6\" aria-label=\"Note 6\">6<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n46\" aria-label=\"Note 46\">46<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n17\" aria-label=\"Note 17\">17<\/a><\/sup><\/p><\/li><li><span class=\"nrp-rows-i\">02<\/span><p class=\"nrp-rows-t\">CON \u2192 TRD \u2192 INF<\/p><p class=\"nrp-rows-x\">Attacks on vessels reroute ships and lift distance.<\/p><p class=\"nrp-rows-m\"><span class=\"nrp-st\"><span class=\"nf-ui-dot\" data-tone=\"info\" aria-hidden=\"true\"><\/span>Reported<\/span> 2024 Red Sea<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n1\" aria-label=\"Note 1\">1<\/a><\/sup><\/p><\/li><li><span class=\"nrp-rows-i\">03<\/span><p class=\"nrp-rows-t\">CLI \u2192 INF \u2192 TRD<\/p><p class=\"nrp-rows-x\">Low water levels cut canal transits.<\/p><p class=\"nrp-rows-m\"><span class=\"nrp-st\"><span class=\"nf-ui-dot\" data-tone=\"info\" aria-hidden=\"true\"><\/span>Reported<\/span> Panama to mid-2024<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n1\" aria-label=\"Note 1\">1<\/a><\/sup><sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n4\" aria-label=\"Note 4\">4<\/a><\/sup><\/p><\/li><li><span class=\"nrp-rows-i\">04<\/span><p class=\"nrp-rows-t\">TRD \u2192 FIN<\/p><p class=\"nrp-rows-x\">Lost transit revenue reaches national budgets.<\/p><p class=\"nrp-rows-m\"><span class=\"nrp-st\"><span class=\"nf-ui-dot\" data-tone=\"info\" aria-hidden=\"true\"><\/span>Reported<\/span> Suez<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n18\" id=\"nx-nrp-sr-03-c1-r18\" aria-label=\"Note 18\">18<\/a><\/sup><\/p><\/li><li><span class=\"nrp-rows-i\">05<\/span><p class=\"nrp-rows-t\">MIN \u2192 TRD<\/p><p class=\"nrp-rows-x\">Export licences on processed minerals reach downstream makers.<\/p><p class=\"nrp-rows-m\"><span class=\"nrp-st\"><span class=\"nf-ui-dot\" data-tone=\"info\" aria-hidden=\"true\"><\/span>Reported<\/span> 2025 controls<sup class=\"nrp-fn\"><a href=\"#nx-nrp-sr-03-c1-n22\" aria-label=\"Note 22\">22<\/a><\/sup><\/p><\/li><\/ol><\/section><section class=\"nrp-block\" id=\"nx-nrp-sr-03-c1-notes\" aria-labelledby=\"nx-nrp-sr-03-c1-notes-h\"><h2 class=\"nrp-h2\" id=\"nx-nrp-sr-03-c1-notes-h\"><span>Notes<\/span><\/h2><p class=\"nrp-note\">Numbers are the edition&#8217;s reference numbers, so a note reads the same in every chapter. The full list, with every source and its licence, is in Annex C. <a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/references\/\">Annex C, references<\/a><\/p><ol class=\"nrp-notes\"><li id=\"nx-nrp-sr-03-c1-n1\"><span class=\"nrp-notes-n\">1<\/span><span>UNCTAD (ed.), Review of Maritime Transport 2025, chapter I: International maritime trade (12,720 million tons and 66,781 billion ton-miles in 2024; Cape detour about 30 percent; cobalt and copper concentration). United Nations Trade and Development, Geneva. Observation year 2024. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r1\" aria-label=\"Back to the first call of note 1\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n4\"><span class=\"nrp-notes-n\">4<\/span><span>UNCTAD (ed.), Review of Maritime Transport 2024, chapter II: World shipping fleet and services (Suez Canal about 10 percent of maritime trade volume and 22 percent of container trade; Panama Canal about 3 percent). United Nations Trade and Development, Geneva. Observation year 2024. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r4\" aria-label=\"Back to the first call of note 4\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n5\"><span class=\"nrp-notes-n\">5<\/span><span>UNCTAD (ed.), Hormuz disruption deepens global economic strain across trade, prices and finance (second rapid assessment; transits about 130 a day in February and 6 in March 2026; merchandise trade growth 1.5 to 2.5 percent projected for 2026). United Nations Trade and Development, Geneva. Observation year 2026. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r5\" aria-label=\"Back to the first call of note 5\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n46\"><span class=\"nrp-notes-n\">46<\/span><span>EIA (ed.), Short-Term Energy Outlook, September 2026, global oil markets (Brent averaged USD 91 a barrel in August 2026; Middle East crude oil production shut-ins from the Hormuz closure averaged 9.4 million barrels a day from March to June 2026 against February production of 25.2, and were 5.0 in July and 6.7 in August). US Energy Information Administration, Washington. Observation year 2026. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r46\" aria-label=\"Back to the first call of note 46\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n22\"><span class=\"nrp-notes-n\">22<\/span><span>China Briefing (ed.), How will China\u2019s rare earth export controls impact industries and businesses? (April 2025 controls on seven elements; 9 October 2025 expansion to five more; suspended until 10 November 2026). Dezan Shira and Associates, Hong Kong. Observation year 2025. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r22\" aria-label=\"Back to the first call of note 22\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n7\"><span class=\"nrp-notes-n\">7<\/span><span>EIA (ed.), World Oil Transit Chokepoints (last updated 3 March 2026; 2024 total oil flows: Hormuz 20.7, Malacca 22.5, Suez and SUMED 4.8, Bab el-Mandeb 4.1, Cape of Good Hope 9.3 million barrels a day). US Energy Information Administration, Washington. Observation year 2024. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r7\" aria-label=\"Back to the first call of note 7\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n8\"><span class=\"nrp-notes-n\">8<\/span><span>EIA (ed.), Amid regional conflict, the Strait of Hormuz remains critical oil chokepoint (Today in Energy, 16 June 2025; about 20 million barrels a day, about one fifth of global LNG trade in 2024). US Energy Information Administration, Washington. Observation year 2024. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r8\" aria-label=\"Back to the first call of note 8\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n6\"><span class=\"nrp-notes-n\">6<\/span><span>UNCTAD (ed.), initial assessment of the Strait of Hormuz disruption of 10 March 2026 (about one third of global seaborne fertiliser trade, about 16 million tonnes), as reported by a Pakistani daily newspaper; the UNCTAD text itself was not opened. Observation year 2026. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r6\" aria-label=\"Back to the first call of note 6\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n17\"><span class=\"nrp-notes-n\">17<\/span><span>FAO (ed.), Strait of Hormuz crisis: FAO Director-General outlines risks, actions and policy responses (remarks to the 180th Council session, 28 April 2026; urea up 52 percent in the United States and 60 percent in Brazil by mid-April). Food and Agriculture Organization of the United Nations, Rome. Observation year 2026. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r17\" aria-label=\"Back to the first call of note 17\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n13\"><span class=\"nrp-notes-n\">13<\/span><span>WTO (ed.), Global Trade Outlook and Statistics, news release of 19 March 2026 (2025 merchandise volume growth 4.6 percent; 2026 baseline 1.9 percent; high-energy-price case 1.4 percent; Hormuz traffic from 138 vessels a day to almost zero). World Trade Organization, Geneva. Observation year 2025. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r13\" aria-label=\"Back to the first call of note 13\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n15\"><span class=\"nrp-notes-n\">15<\/span><span>WTO (ed.), World Trade Report 2026: A critical juncture for the world trading system (about 72 percent of merchandise trade on MFN terms). World Trade Organization, Geneva. Observation year 2025. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r15\" aria-label=\"Back to the first call of note 15\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n14\"><span class=\"nrp-notes-n\">14<\/span><span>WTO and UNCTAD (eds.), Global goods trade resilient in Q1 2026 despite Middle East war (WTO news item of 31 July 2026; Middle East export volumes down 9.7 percent and import volumes down 11.9 percent year on year in the first quarter). World Trade Organization, Geneva. Observation year 2026. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r14\" aria-label=\"Back to the first call of note 14\">back<\/a><\/span><\/li><li id=\"nx-nrp-sr-03-c1-n18\"><span class=\"nrp-notes-n\">18<\/span><span>IMF (ed.), fourth review of Egypt\u2019s arrangement (Suez Canal revenue USD 6.6 billion in FY2023\/24 and projected USD 3.6 billion in FY2024\/25), as reported by Hellenic Shipping News from Arab Finance; the IMF report itself was not opened. Observation year 2025. Accessed 2026-11-03.<a class=\"nrp-notes-back\" href=\"#nx-nrp-sr-03-c1-r18\" aria-label=\"Back to the first call of note 18\">back<\/a><\/span><\/li><\/ol><\/section><section class=\"nrp-block nrp-noprint\" id=\"nx-nrp-sr-03-c1-cite\" aria-labelledby=\"nx-nrp-sr-03-c1-cite-h\"><h2 class=\"nrp-h2\" id=\"nx-nrp-sr-03-c1-cite-h\"><span>Cite this chapter<\/span><\/h2><pre class=\"nrp-pre\">Valadbaygi, S. (Ed.). (2026). Chapter 1: Trade moves through a few narrow places. In Strategic Systems Report 2026: Global Supply Chains, Trade and Chokepoints (Baseline Edition 2026, Report No. NR-STRATEGIC-SUPPLYCHAINS-GLOBAL-2026-BASELINE) [Draft under review]. The Global Centre for Risk and Innovation (GCRI).<\/pre><p class=\"nrp-note\">Every citation form of the whole report, BibTeX and RIS included, is on the edition home. <a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/#nx-nrp-sr-03-land-cite\">Cite this report<\/a><\/p><\/section><nav class=\"nrp-pager\" aria-label=\"Previous and next\"><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/summary\/\" rel=\"prev\"><span class=\"nf-ui-eyebrow\">Previous \u00b7 Executive summary<\/span><span class=\"nrp-pager-t\">Executive summary<\/span><\/a><a href=\"https:\/\/therisk.global\/nexus-reports\/editions\/sr-03\/findings\/\" rel=\"next\"><span class=\"nf-ui-eyebrow\">Next \u00b7 Chapter 2<\/span><span class=\"nrp-pager-t\">Key findings<\/span><\/a><\/nav><\/article><\/div><\/div><\/div><div class=\"nrp-noprint\"><section id=\"nx-sec-nr-gateway\" class=\"nx-section\" data-hue=\"systemic\" data-tone=\"alt\" aria-labelledby=\"nx-nr-gateway-h\"><div class=\"nx-container\"><div class=\"nx-section-head\"><div class=\"nx-eyebrow-row\"><span class=\"nx-eyebrow\">Reports<\/span><span class=\"nx-rule\" aria-hidden=\"true\"><\/span><span class=\"nx-eyebrow\">Contribute<\/span><\/div><h2 id=\"nx-nr-gateway-h\" class=\"nx-section-title\">Send evidence or a correction on Global Supply Chains, Trade and Chokepoints.<\/h2><p class=\"nx-lede\"><a class=\"nx-link\" href=\"https:\/\/docs.therisk.global\/organization\/programme\/reports\">Reports<\/a> is the Consortium&#8217;s quarterly publication, written by six desks. 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