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Venezuela earthquake damage estimated at 6% of GDP
🇬🇷 Greece /Disasters & Emergencies

Venezuela earthquake damage estimated at 6% of GDP

From Ta Nea · () Greek

Translated from Greek, summarized and contextualized by DistantNews.

At a glance

News Official statement Outcome reported
  • A double earthquake in Venezuela caused approximately $7 billion in damages, equivalent to 6% of the country's GDP, according to a preliminary UN Development Programme assessment.
  • The UNDP's initial evaluation, based on satellite imagery and demographic data, does not include infrastructure damage or long-term rebuilding costs.
  • The full economic impact is estimated to be up to three times greater than the preliminary damage assessment.

A preliminary assessment by the United Nations Development Programme (UNDP) estimates that a recent double earthquake in Venezuela caused approximately $7 billion in damages. This figure represents about 6% of the nation's GDP.

The preliminary assessment of the UNDP, which was conducted in the hours following the devastating earthquakes, is based mainly on satellite images and demographic data.

— UNDPExplaining the methodology behind the damage assessment.

The UNDP's initial evaluation, conducted in the hours following the devastating earthquakes, primarily relied on satellite imagery and demographic data. The program clarified that this assessment does not encompass damage to infrastructure, broader economic consequences, or the long-term costs of reconstruction.

does not include the damage caused to infrastructure, the overall economic consequences or the long-term cost of reconstruction

— UNDPClarifying the limitations of the initial damage estimate.

According to the UNDP, the overall impact is generally up to three times greater than the preliminary damage figures. The report highlights the significant economic strain the natural disaster has placed on the country.

the total impact is generally up to three times greater.

— UNDPIndicating the potential for much higher overall economic consequences.
DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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