Due to attacks by Yemeni Houthis, global trade suffered a loss of $200 billion last year, according to The Economist.

In 2024, Yemeni Houthis attacked nearly 200 vessels, damaging over 40 of them. The costs to the global economy amounted to approximately $200 billion. These attacks continued into 2025. 

This is reported by writes The Economist.

“The volume of cargo in the strait fell by two-thirds, the final nationality of the vessels changed, and container routes were rerouted,” the article states.

Throughout the past year, the Houthis forced ships to navigate around Africa, extending journeys to Asia by 3,000-3,500 nautical miles (6,000 km), or an additional 10-14 days. Longer transits at higher speeds consume more fuel, adding $1 billion per journey. However, this is still cheaper than using the Red Sea, where insurance costs have surged by 20 times.

The cost of shipping a container from Shanghai to Rotterdam peaked in July 2024 at $8,200. This is five times the average rate in 2023. Considering the global container volumes, the Houthi attacks added at least $175 billion to transportation costs from January to October 2024. In the same period in 2023, the entire global container market was valued at approximately $122 billion.

A group of experts informed the UN Security Council in November that several shipping agencies are collaborating with a company linked to a high-ranking Houthi leader to secure a “safe passage.” According to UN experts' estimates, this brings the Houthis $180 million monthly, or $2.1 billion annually. 

Background. Previously, Mind reported that Yemeni Houthis utilized data from Russian satellites for drone and missile attacks on commercial vessels in the Red Sea.