Alarm over weather-related risks

Damage to economy might reach B36bn released : 8 Jun 2023 at 07: 34 The drought-stricken Kwan Phayao Lake in Phayao province in northern Thailand last month. (Photo: Sarot Meksophawannakul) Drought, floods and other severe weathercondition exacerbated by environment modification might cause damage worth 36 billion baht to the Thai economy this year, states the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). Water shortage triggered by dryspell is the committee’s leading issue since it might have a enormous effect on both the farming and production sectors, obstructing currently slow exports, stated Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), a secret member of the JSCCIB. “Manufacturers are anxious about dryspell since it can lower production capability and impact exports,” he stated. According to the Commerce Ministry’s newest information, in the veryfirst 4 months of 2023 Thai exports reduced by 5.2% year-on-year to UnitedStates$92 billion, while imports fell by 2.2% to $96.5 billion, resulting in a trade deficit of $4.51 billion. Signs of an export downturn started late last year when secret financial indications revealed a drop in deliveries amidst concerns over the possibility of a recess
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