According to UNCTAD, 61 vulnerable economies face dual exposure to oil and cereal import shocks. The group includes 35 least developed countries and 26 small island developing states, with seven countries falling into both categories.
The Strait of Hormuz could reopen after more than 100 days of disruption, easing pressure on global trade and energy markets.
UNCTAD warns freight, food, and public finance effects will unwind more slowly than oil prices.
Import-dependent economies face lasting cost pressure, with 61 vulnerable economies exposed to oil and cereal import shocks.
The pressure is most acute for economies heavily dependent on imported fuel. In Cabo Verde, net imports of oil and petroleum products averaged 24.6 per cent of gross domestic product in recent years, while in Yemen net imports of cereals and cereal products averaged 10.8 per cent of gross domestic product.
UNCTAD said reopening the route is necessary but will not by itself reverse the impact of higher import bills, delayed shipments and more expensive food and energy. It said vulnerable economies need support to manage import costs, protect households from food and fuel price shocks, and invest in systems that reduce exposure before future disruptions reach household budgets.
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