The new D&B shipping and company-level analysis shows the impact has evolved from an immediate collapse in Persian Gulf trade flows to a more uneven, structural supply chain disruption, with some routes recovering while others remain severely constrained.

A few toplines from the latest data:

• Persian Gulf import bookings fell 77% in the week after Feb. 28 and bottomed out at 93% below pre-disruption levels on March 13. Imports have since partially recovered, but remain around 70% below previous volumes as of early May.

• Persian Gulf export bookings dropped 63% immediately after Feb. 28 and fell as much as 95% below pre-disruption levels on March 20. Unlike imports, export volumes remain heavily depressed – still roughly 90% below previous activity.

• 59,436 businesses across 175 economies are associated with at least one exposed shipment, up from 44,633 businesses across 174 economies in an earlier analysis.

• Around 72% of impacted businesses are micro and small enterprises with fewer than 50 employees, down from 80% in earlier analysis, but still highlights disproportionate exposure among smaller firms.

The data suggests the story is shifting from an immediate shipping shock to a longer-term operational strain on logistics networks, inventory systems and export-dependent supply chains.