Heat waves are expensive - even for countries that are not themselves affected by the extreme temperatures.
This is shown by a study by the Frankfurt School of Finance and Management and the Leibniz Center for European Economic Research in Mannheim.
Heat leads to export slumps
Sasha Zoske
Sheet maker in the Rhein-Main-Zeitung.
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According to this, exports fall by 3.4 percent in months with an average temperature of at least 30 degrees, compared to a month in which the temperature is below this value.
Goods that are particularly labour-intensive to produce are particularly affected.
The heat is reducing the supply of workers and their productivity.
Importing countries then obtain goods from other countries, which is often more expensive.
An average heat wave causes costs of around 360 million dollars in this way;
two-thirds of that is to be borne by countries that are not hot at the time.
Due to high temperatures, global trade losses of 735 million dollars are expected for the years 2020 to 2039.