The Federation of Thai Industries (FTI) announced a preliminary estimate of 1.02 billion baht (approximately $30 million USD) in economic losses sustained by its members due to widespread flooding across Thailand between Sept. 24 and Sept. 30. The figures were released following a survey of businesses affected by the severe weather.
FTI Chairman Suphan Mongkolsuthee detailed the findings in a public statement. The estimate covers direct damage to factories, machinery, and inventory, as well as indirect costs from supply chain and transportation disruptions. According to the FTI, the agricultural and industrial sectors in the country’s central and northeastern regions were among the most affected.
The flooding was triggered by heavy monsoonal rainfall exacerbated by Tropical Storm Dianmu, which made landfall in late September. The Department of Disaster Prevention and Mitigation (DDPM) reported that more than 30 provinces experienced flooding, impacting hundreds of thousands of households. The DDPM has been coordinating with provincial authorities to provide assistance, including distributing relief supplies and deploying water pumps to affected areas.
In response to the situation, government officials, including Prime Minister Prayut Chan-o-cha, visited several flood-hit provinces to assess the damage and oversee relief efforts. The government has stated that it is working to accelerate aid and has instructed agencies to implement flood management plans to mitigate the impact on residents and the economy.
The FTI’s report serves as an initial assessment from the private sector. The organization noted that the total economic impact could be higher once a full evaluation is completed. The University of the Thai Chamber of Commerce’s Center for Economic and Business Forecasting also provided an initial economic assessment, suggesting the floods could affect the country’s gross domestic product.
The FTI has called on the government to implement long-term water management solutions to prevent similar economic disruptions in the future. The federation’s report is expected to inform discussions between the private sector and government agencies regarding recovery support and infrastructure investment. Official government agencies are expected to release their own comprehensive damage assessments in the coming weeks.
