The UN estimated, this Saturday (27), at US$6.7 billion (R$34.6 billion) the physical damage caused by the two earthquakes in Venezuela, a value equivalent to 6% of the South American country’s GDP.
The preliminary assessment is based on seismic models, satellite images and population data. It includes losses of assets such as housing, but does not cover the broader economic disruption caused by Wednesday’s disaster, the United Nations Development Program (UNDP) said.
The UNDP highlighted that the two consecutive earthquakes affected important centers of population and economic activity near the north coast of Venezuela, including the capital, Caracas, and the states of La Guaira, Carabobo, Miranda, Yaracuy and Aragua.
“Direct physical damages are estimated at US$6.7 billion (in a range between US$4.7 billion and US$8.7 billion, or R$24.3 billion and R$45 billion), due to losses in housing and economic assets,” the statement said.
“This does not include infrastructure damage, broader economic disruption, or long-term reconstruction costs,” he added, saying the total economic impact could be between 1.5 and 3 times the cost of direct damage.
