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China's economic losses hit $57 billion from disasters in the first 3 quarters of 2023

Posted on October 16, 2023 |

China faced direct economic losses of 308.29 billion yuan (equivalent to about $57.8 billion) during the first 9 months of 2023 due to natural disasters, including heavy rains, landslides, hailstorms, and typhoons.

These disasters had a profound impact on China's vast population of 1.4 billion, causing extensive damage.

During this period, reports indicated 499 people were either deceased or missing, and more than 89 million individuals were affected. Additionally, over 2.75 million had to be evacuated and relocated.

The primary contributors to these losses were the four typhoons, leading to flash floods and numerous landslides in the southern regions.

Simultaneously, the northern and northeastern areas saw record-breaking rainfall and evacuation efforts.

The north and northeast regions experienced more severe natural disasters when compared to the same period over the past 5 years.

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