Page 12 - Policy Economic Report - April 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

At the same time, supply constraints have emerged in several critical commodities and services:

• Fertilizers (Urea, Ammonia): Supply disruptions have tightened fertilizer markets, leading to
sharp price increases and raising input costs for agriculture.

• Agricultural Inputs (Indirect Impact): Higher fertilizer costs are likely to increase food production
costs, exerting upward pressure on global food prices.

• Helium: Supply disruptions have affected the availability of helium, a critical input for
semiconductor manufacturing and medical applications.

• Industrial Inputs (Broader Category): Disruptions in key industrial inputs are impacting
manufacturing processes, particularly in high-technology and healthcare sectors.

• Aviation Routes: Disruptions in air travel routes have affected global connectivity, leading to
delays and increased logistics costs.

• Tourism Flows: Reduced mobility and travel disruptions have impacted tourism-dependent
economies and services trade.

• Remittances: Disruptions in labour mobility and regional economic activity are affecting
remittance flows, particularly in developing economies.

• Global Supply Chains (Systemic Impact): These disruptions collectively indicate the re-emergence
of supply chain bottlenecks, leading to higher production costs, disrupted trade flows, and
broader impacts on economic activity across regions.

Figure 4: Reorientation of Global Trade

Source- IMF (Note: Based on latest available data; series may have differing time coverage)

April 2026 Page | 11