After 12 Days of War, How Much Have Israel, Iran, and the United States Lost?

The conflict between Israel and Iran has resulted in a humanitarian crisis and significant economic losses for both parties, as well as triggering concerns over potential disruptions to global trade and the rerouting of flights.

The 12-day war between Iran and Israel ended with a ceasefire mediated by United States President Donald Trump. One of the most intense conflicts in the Middle East has shaken a region that has been unstable due to violence for nearly two years. With the ceasefire, space has reopened for reconciliation between both parties.

Although direct combat has ceased, both Israel and Iran claim victory. Iranian President Masoud Pezeshkian stated that the recent victory achieved by Iran is a direct result of the strong determination and heroic resistance of the Iranian people. Iranian citizens also held celebrations in the streets to commemorate it.

On the other hand, Israeli Prime Minister Benjamin Netanyahu claimed a "victory for future generations." In a video message released on Tuesday (24/6/2025), Prime Minister Benjamin Netanyahu emphasized that Israel has successfully eliminated two existential threats: the danger posed by Iran's nuclear weapons program and the threat of 20,000 ballistic missiles that are actively being developed by Tehran.

Experts believe that this ceasefire is merely a pause, not a peace agreement that addresses the root of the problem. The future of Iran's nuclear program has become one of the central issues that will determine the direction of peace.

Regardless of the ceasefire that has been achieved, the 12-day conflict has left deep scars for Iran and Israel, burdened regional supply chains, and sent adverse effects to global energy and trade markets. Although the ceasefire is still in effect, the full costs of this war continue to unfold to this day.

The war between Israel and Iran has caused a humanitarian crisis and economic losses for both sides. Bombs, missiles, and even drones have alternately hit both sides, causing many casualties, injuries, and the destruction of buildings and infrastructure.

The Times of Israel (6/24/2025) reported that Iran's ballistic missile attacks on Israel during the 12-day war have killed 28 people and injured more than 3,000. The Israeli Health Ministry said a total of 3,238 people were hospitalized, including 23 seriously injured; 111 moderately injured; 2,933 lightly injured; 138 suffering from acute anxiety; and 30 others whose condition has not been determined.

The majority of the victims are Israeli civilians. The Israel Defense Forces (IDF) reported that only seven soldiers were injured in a missile impact in Israel, and one off-duty soldier was killed in Beersheba. Israeli authorities stated that more than 9,000 people have been displaced from their homes, with dozens of them damaged or destroyed due to the Iranian attacks.

According to the IDF, Iran launched approximately 550 ballistic missiles and around 1,000 drones at Israel during the war. Most of the missiles were intercepted by Israeli and US air defense systems with an interception rate of about 90 percent.

Nevertheless, at least 31 ballistic missiles struck populated areas or locations of critical infrastructure, including power plants in southern Israel, oil refineries in Haifa, and universities in central Israel. Dozens of other missiles hit open areas, causing no significant damage.

As a result of the conflict with Iran, the Israeli economy has to bear huge costs estimated at billions of dollars. The Financial Express reported that Israel spent about 5 billion US dollars (around Rp. 81.6 trillion) in just the first week of the attack on Iran. The cost spent per day during the war reached 725 million dollars, most of which (593 million dollars) was to attack Iran.

The estimated economic losses of Israel were also revealed on the TRT Global page (6/25/2025). In its report, Israel is estimated to have spent around 5 billion US dollars in the first week of the attack on Iran. Daily war costs range from 593 million US dollars to 725 million US dollars for offensive operations and 132 million US dollars for defense and mobilization.

According to The Wall Street Journal, the anti-missile system alone costs Israel between $10 million and $200 million a day. If the conflict continues for a full month, the total cost could exceed $12 billion, according to estimates by the Aaron Institute for Economic Policy.

Despite being economically more resilient, Israel is estimated to incur losses ranging from 11.5 billion to 17.8 billion US dollars, or 2.1 percent to 3.3 percent of Israel's GDP of 540 billion US dollars. This figure includes military expenditures, infrastructure damage, and the interception of more than 400 Iranian missiles.

However, this figure does not take into account business closures, the suspension of commercial flights, and labor gaps in the agriculture and construction sectors. These opportunity costs, including the cessation of investments and the postponement of major projects, can have long-term impacts.

Meanwhile, The Times of Israel reported on Monday (6/22/2025) that the cost of property damage from the Iranian missile attack has reached 4.5 billion shekels or around 1.32 billion US dollars. The total claims are expected to increase to another 500 million shekels. About 40,000 property claims for the war have been filed. That number is expected to reach 50,000 or more, including claims from factories that are still assessing the extent of the damage.

What about the United States? The United States, through an operation codenamed "Operation Midnight Hammer," deployed 125 aircraft, including B-2 stealth bombers and Tomahawk cruise missiles, to strike at the heart of Iran's nuclear technology, namely Fordow, Natanz, and Isfahan.

The operation launched by US President Donald Trump resulted in the US experiencing a "minor fiscal event" of approximately 1 billion to 2 billion US dollars. The cost of the operation represents a small percentage of the US economy, which amounts to 28 trillion US dollars.

The military escalation between Iran and Israel has also created a humanitarian crisis and huge economic losses for Iran. During the 12 days of war, the Iranian Health Ministry reported that at least 610 people were killed by Israeli military attacks, including 100 in the last 24 hours before the ceasefire came into effect, as quoted from the New Arab page (6/25/2025). As many as 4,700 people in Iran were also reported to have been injured during the attack period.

Israel's attack on Iran has resulted in the deaths of 28 Iranian scientists, including 12 nuclear experts and two AI specialists. Among them are Mohammad Mehdi Tehranchi (chief nuclear scientist), Fereydoun Abbasi (Head of the Atomic Energy Organization); Tehranchi (physicist and Rector of the Islamic Azad University of Iran); and Abdolhamid Minouchehr (nuclear scientist and Dean of the Faculty of Nuclear Engineering at Shahid Beheshti University).

Israel also struck 21 out of 31 provinces in Iran, damaging airports (Tabriz, Mehrabad), nuclear and military sites (Natanz, Fordow, Shiraz Missile Factory, Parchin), and energy facilities. The bombings by Israel also targeted the Ministry of Defense, the headquarters of government television, as well as the Iranian Defense Innovation and Research Organization.

Israeli hackers also disrupted Iran's banking system and hacked government TV broadcasts. Meanwhile, US forces used bunker-buster bombs to attack nuclear enrichment facilities in Isfahan, Natanz, and Fordow on June 21.

The Israeli-US attack on Iran certainly caused economic damage in the Iranian region. Quoted from the TRT Global page Tuesday (6/25/2025), Krieg, a defense analyst, estimated Iran's total direct and indirect losses at between US$24 billion and US$35 billion. The total loss is around 6.3 percent to 9.2 percent of Iran's gross domestic product or GDP, which is estimated at US$380 billion.

In addition, the attacks by the US and Israel have damaged Iran's nuclear infrastructure and caused a sharp decline in Tehran's oil exports. The damage to energy installations and military infrastructure will deepen Iran's structural weaknesses and delay post-war recovery.

The geopolitical tension between Israel and Iran also impacts global trade and energy markets. One of the most tangible effects of this conflict is the potential disruption of global oil supplies. Traders suspect that Iran will block the Strait of Hormuz, a strategic route through which approximately 20 percent of total global oil transactions pass in 2024.

The concern over the closure of this route forces ships to choose alternative paths that are not as cost-efficient as sailing through the Strait of Hormuz. According to the Energy Information Administration (EIA), disruptions in this route will have a significant impact on the energy markets in China, India, Japan, and South Korea.

As a result, insurance premiums for tankers have surged, doubling in some cases, and shipping costs have increased, as crude oil prices had risen by 15 percent to 20 percent due to the conflict. However, when the ceasefire agreement between Israel and Iran was announced by U.S. President Donald Trump on June 23, global oil prices immediately declined. They fell from an average of over 75 dollars per barrel to below 70 dollars per barrel. This price has remained relatively stable until now.

In addition to oil, broader trade also experiences turmoil in the event of prolonged conflict. Major global shipping companies will alter shipping routes, charter standby tonnage, and delay operations to the Gulf. These logistical changes risk increasing costs and extending delivery times, particularly impacting economies such as India, China, and Europe, which are heavily reliant on energy exports from the Gulf.

Other sectors such as agriculture, pulp, and paper are also feeling the impact, as delays in shipments trigger hidden costs. Overall, this war highlights the extreme sensitivity of global trade to conflicts in the Gulf and underscores the importance of Hormuz as a global trade route.

The Iran-Israel war has also impacted international flights, including affecting several flights to and from Indonesia. Some airlines have decided to cancel their flight schedules to the Middle East to avoid the conflict. The widespread flight cancellations and route diversions have increased the operational costs for airlines, making them vulnerable to negatively impacting business performance.

However, as the Israel-Iran tensions ease, a number of flights to the Middle East are gradually opening up. The hope is that the conflict will no longer escalate so that regional peace and stability can be created. (LitbangKompas)