Natural disasters cause over $7 trillion in economic losses since 1900

Researchers have found that natural disasters have caused economic damage worth over $7 trillion globally since 1900, reported France24.

They said that floods and storms accounted for almost 60% of the total damage.

"Flooding is the key driver" for economic losses and death, said an official at Germany's Karlsruhe Institute of Technology, adding that about 38.5% of the damage was due to floods.

The study found that the annual cost of economic losses from natural disasters has increased gradually over time.

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