TÜRKONFED Reports: What Will be the Economical Consequences of Kahramanmaraş Earthquake for Türkiye?

A report on the economic impacts of the earthquakes in Kahramanmaraş has been issued by the Turkish Enterprise and Business Confederation (TÜRKONFED). According to the estimate, the financial losses from the earthquakes are projected to total 84.1 billion dollars.

Earthquakes with their center in Kahramanmaraş significantly damaged Kilis, Diyarbakır, Adana, Osmaniye, Gaziantep, Şanlıurfa, Adıyaman, Malatya, and Hatay. Turkish Enterprise and Business Confederation (TÜRKONFED) has published a study on the economic impacts of the earthquake tragedy that hit Türkiye severely while the search and rescue efforts of the teams in the wreckage continue.

TÜRKONFED Assesses the Situation and its Outcome in Losses

The financial effect of the earthquake is anticipated to be in the range of $84.1 billion, according to a report by TÜRKONFED titled “The Disaster Status Report for the Kahramanmaraş Earthquake in 2023.”

According to the analysis, which makes forecasts for fatalities and economic losses using data from the 1999 Marmara Earthquake as a guide, the Kahramanmaraş earthquakes will result in 72,663 fatalities and $84.1 billion in losses.

TÜRKONFED Assesses the Situation and its Outcome in Losses

The Exports are Affected by the Damage Done to the Infrastructure

According to the analysis, with the impact of the deterioration of the port infrastructure that supports the exports, the exports of these 10 cities may drop below the level of 15 billion dollars, corresponding to the decline in the contribution of the earthquake-affected towns to the national revenue.

According to the notification dated February 8, despite the General Directorate of Highways’ announcement that there are no routes blocked to traffic, issues remain at Hatay Airport and on the Hatay-Reyhanlı road. It is apparent from the information and pictures collected on the ground that many regions and villages do not have accessible roadways. Numerous road collapses took place, particularly on the Gaziantep, Hatay, Gaziantep-Osmaniye, and Adyaman-Çelikhan routes.

In several of the earthquake-affected provinces, transformer sites were destroyed, and the electrical distribution network was severely damaged in certain places. The re-commissioning of the transformer and grid infrastructure is anticipated to require a considerable amount of time and materials. Although the main energy transmission infrastructure and lines have been stabilized, there are still issues in several districts and provincial cities’ inner-city distribution systems.

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Diana Ember

I'm a visual journalist at heart, I love to try and solve difficult problems, don’t like immutable events. Moreover, brainstorming and team working are my most loved things.

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