Published on: 2026-06-29
Source: United Nations – United Nations –
An important disclaimer is at the bottom of this article.
June 29, 2026 Climate and Environment
According to preliminary data from the United Nations Development Programme (UNDP), the direct economic damage caused to Venezuela by the earthquakes on June 24 is estimated at 6.7 billion dollars, which is about six percent of the country’s GDP. These figures are based on an operational assessment by the RAPIDA system, carried out using satellite data and seismic modeling. However, as UNDP emphasizes, the main consequence of the disaster remains the tragedies of people and communities affected at the epicenter of the catastrophe.
Two powerful tremors with magnitudes of 7.2 and 7.5 occurred off the northern coast of the country and were felt in densely populated and economically significant regions, including the capital Caracas. According to UNDP estimates, about 1.7 million buildings were within the affected area.
Analysis showed that 8.6 million people were exposed to shocks above a moderate level, and about 2.1 million to strong shocks. Authorities warn that the death toll will rise as rescue operations continue. For millions of residents in the affected regions, the path to recovery is just beginning: they face the loss of housing, property, and sources of income.
The main portion of direct damage is related to the destruction of residential houses and economic facilities. UNDP’s assessment does not include the loss of infrastructure, long-term economic consequences, or recovery costs. Experts note that the overall economic effect is usually one and a half to three times greater than the direct damage, and final figures will be refined as new information becomes available.
Satellite observations record possible power outages in several regions of the country – this is evidenced by sharp declines in the level of nighttime lighting after earthquakes.
The RAPIDA system, based on the use of AI, satellite imagery, and other innovative technologies, allows obtaining an operational picture of damages within the first 72 hours after a disaster. The high resolution of the images helps identify damages, determine vulnerable population groups, and coordinate emergency measures.
Additional analysis of satellite data is ongoing: as clearer images become available, experts will be able to more accurately assess the scale of the destruction, the number of casualties, and the volume of displaced people.
Please be advised; This information is raw content obtained directly from the source. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.