Two months since the outbreak of the Iran war, the charts below show how the economic toll is spreading beyond the Middle East, with emerging and developing markets facing rising inflation, growing fiscal strains and trade disruptions. 1/DIRECT HITS Middle East nations and those nearby are seeing the most direct economic hit. Qatar posted its first ever trade deficit at $1.2 billion in March after the closure of the Strait of Hormuz slashed exports by more than 90% and halved imports.