8,643.88 TRY BIST 100 BIST 100
4.87 CNY CNY CNY
34.34 USD USD USD
37.42 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.07 TRY Interest Interest
75.11 USD Fossil Oil Fossil Oil
32.50 USD Silver Silver
4.45 USD Copper Copper
102.15 USD Iron Ore Iron Ore
374.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,026.19 TRY Gold (gr) Gold (gr)

The financial damage of the earthquakes is expected to be 84.1 billion dollars

TÜRKONFED prepared a report on the economic effects of Kahramanmaraş-centered earthquakes.

The financial damage of the earthquakes is expected to be 84.1 billion dollars

Turkish Enterprise and Business Confederation (TÜRKONFED) stated that the earthquakes in Kahramanmaraş will cause financial damage exceeding 84 billion dollars for the Turkish economy.

In TÜRKONFED's report titled "The Disaster Situation Report of the Kahramanmaraş Earthquake in 2023", estimations for loss of life and financial damage were prepared based on the data of the 1999 Marmara earthquake.

In the report, while the loss of life in the Marmara Earthquake was 18 thousand 373 people, the financial damage was calculated as 17.1 billion dollars at the 1999 dollar exchange rate, it was predicted that the Kahramanmaraş earthquakes would cause 72 thousand 663 loss of life and 84.1 billion dollars in financial damage, with the methodology using the Marmara earthquake data.

It is estimated that $70.75 billion of this estimated financial damage will be housing loss, $10.4 billion loss of national income and $2.91 billion loss of working days.

In the report, it was estimated that in parallel with the decrease in the contribution of the provinces to the national income, the exports of the 10 provinces that were subjected to the disaster may decrease below the level of 15 billion dollars, with the impact of the deterioration of the port infrastructure that carries the exports.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Swiss Steel Group board changes

Thursday, October 31, 2024

Per Elfgren appointed as new president of SSAB Special Steels

Wednesday, October 30, 2024

Analysis of last week's market situation

Monday, October 28, 2024

Salzgitter AG appoints Denecke-Arnold as new president of Salzgitter Flachstahl

Tuesday, October 22, 2024

EU steel industry sounds crisis alarm! EUROFER issues open letter

Thursday, October 17, 2024
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now