Summer Heatwaves Cost Germany €25 Billion
Fahad Shabbir (@FahadShabbir) | September 25, 2026 | 11:15 AM
BERLIN (UrduPoint / Pakistan Point News / WAM - 25th Sep, 2026) Heatwaves this summer cost the German economy around €25 billion, according to a study by Allianz and Allianz Trade.
The losses were mainly driven by:
- Drop in productivity linked to intense heat
- Higher workplace absences
- Longer breaks
Germany experienced record temperatures exceeding 42°C for three consecutive days during a heatwave in late June.
Official figures indicate that around 16,000 heat-related deaths have been recorded this year. The extreme heat also triggered:
- Wildfires
- Damaged crops
- Lowered river levels, affecting shipping
Germany recorded the second-highest absolute heat-related economic losses among the 30 European countries covered by the study, behind Italy at €28 billion and ahead of France at €20 billion.
Total estimated losses across the 30 European countries reached €113 billion.
The study also warned of potential economic risks from El Niño, stating it could cost 144 economies around €392 billion in economic output next year and lead to further increases in food prices in Europe.
Allianz experts noted that economic damage linked to climate change is expected to persist in the coming years.