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Vietnam estimates Typhoon Yagi cause $1.6 billion in damages, how does it affect Vietnam's GDP

The severe damage caused by storm No. 3 has caused the growth rate of the country and many localities in the last 6 months of the year to slow down, with the GDP estimated to decrease by 0.15% compared to the scenario for the whole year.


On September 15, at the Conference on urgently overcoming the consequences of Typhoon Yagi, quickly stabilizing the people's situation, restoring production and business, and promoting growth chaired by the Prime Minister, ministries and branches reported on the damage after the storm.


According to Minister of Planning and Investment Nguyen Chi Dung, storm No. 3 and its aftermath have a very large area of ​​influence, spanning 26 northern provinces and cities and Thanh Hoa, accounting for over 41% of the country’s GDP and 40% of its population. Flooding is still occurring, which could cause more severe damage.


Estimated GDP for the whole year could decrease by 0.15% compared to the scenario


“Preliminary estimate, incomplete, Property damage caused by storm No. 3 is about 40,000 billion VND (equivalent to about 1.6 billion USD - PV) ," said Mr. Dung.


According to Minister Dung, these losses are expected to slow down the growth rate in the last 6 months of the year of the whole country and many localities.


Specifically, the country's GDP growth in the third quarter may decrease by 0.35%, and in the fourth quarter by 0.22% compared to the scenario without typhoon Yagi - storm No. 3. The estimated GDP for the whole year may decrease by 0.15% compared to the scenario where growth could reach 6.8-7%, of which the agriculture, forestry and fishery sector decreases by 0.33%, industry and construction by 0.05% and services by 0.22%.


The GRDP growth rate in 2024 of many localities such as Hai Phong, Quang Ninh, Thai Nguyen, Lao Cai... decreased by more than 0.5%.


The most severely damaged areas were flooded transport infrastructure, affecting traffic, especially roads and railways, causing localized disruptions.


Rice, vegetable, livestock and aquaculture growing areas need a lot of resources and time to restock, re-crop and reproduce. Many tourist and accommodation facilities are damaged and must be closed for repairs.


Industrial and construction enterprises were also affected by the storm, especially the indirect impact of power outages, communications, labor and workers' families being affected.


According to the Ministry of Industry and Trade, storm No. 3 has caused damage and affected the supply of electricity, gasoline, industrial production and goods supply. Of which, 5 500kV lines, 40 220kV lines and 187 110kV lines were damaged.


Medium and low voltage power grids in the provinces of Quang Ninh, Hai Phong, Thai Binh, Nam Dinh, Thai Nguyen, Bac Giang, Hai Duong, Hanoi, and Hung Yen were severely affected, with many power poles broken. Quang Ninh and Hai Phong provinces suffered power outages across the province, and Hai Duong lost about 90% of its load.


Some industrial clusters are still stagnant and isolated due to power shortage.


In particular, production activities in industrial clusters have been suspended, and businesses in industrial clusters have suffered heavy losses with hundreds of projects. Currently, many areas are still without power, isolated and lacking in human resources. Therefore, these areas have not yet determined the expected time for completion of the recovery.


With regard to trade and import-export activities, many commercial establishments and traditional markets had their roofs blown off. Food production and supply areas and distribution channels were damaged. Traffic and import-export activities in Lao Cai, Lang Son, Quang Ninh, and Hai Phong encountered difficulties, affecting exports in these localities.


According to the State Bank, in 20/26 provinces and cities, the estimated affected outstanding debt is about VND80,000 billion (accounting for about 5% of outstanding debt in the area). Of which, in Quang Ninh and Hai Phong, there are 117,000 customers affected with outstanding debt of about VND23,100 billion.


In order to promptly support people and businesses to restore production and business, according to the Ministry of Planning and Investment, it is necessary to focus on supporting the restoration of social activities to stabilize people's lives.


Storm No. 3 has many abnormalities in its development and where heavy rain occurs.


That assessment was made by the Ministry of Natural Resources and Environment in a report on forecasting storm No. 3 , warnings, and information about storms, rain, floods, and landslides.


Storm No. 3 intensifies very quickly but weakens slowly


Storm No. 3 has unusual characteristics: it is the strongest storm in the past 30 years in the East Sea; it is a storm that increases in intensity very quickly (in 24 hours, the storm intensity increases by 8 levels) and maintains the super storm level for a long time. When it makes landfall in the East of Hainan Island (China), it still maintains the super storm level .



The level of deterioration along the way does not follow the usual rules: normally when passing Hainan Island into the Gulf of Tonkin, storms often weaken quickly.


But with storm number 3, the intensity does not decrease quickly, when approaching the coast of Quang Ninh - Hai Phong, it still maintains the intensity of level 12-13. The storm's stay on land lasts up to 12 hours.


Regarding heavy rain caused by the circulation of storm No. 3, there are also some unusual points such as: Storm No. 3 moved deep inland and weakened into a tropical depression in the Northwest region.


However, the heaviest rain caused by storm No. 3's circulation was mainly in the east of the Hoang Lien Son mountain range, although it was not in the storm's path and was not directly affected by the storm's winds. Most storms with similar trajectories in the past often caused heavy rain in the west of the Hoang Lien Son mountain range.


Assessing storm No. 3, the Ministry of Agriculture and Rural Development said this is the strongest storm to make direct landfall in our country in the past 30 years.


Before entering the Gulf of Tonkin, the storm reached super typhoon level (wind level 16, gusts above level 17). In the Gulf of Tonkin, the storm still caused strong winds of level 13-14, gusts of level 16-17.


When making landfall, the storm caused strong winds of level 14, gusting to level 17 in Bai Chay (Quang Ninh), strong winds of level 11-12, gusting to level 14 in other coastal areas.


Storm No. 3 and its circulation caused very heavy, continuous rains over a wide area in all localities in the Northern region. Total rainfall was generally from 250-500mm, especially in the northern mountainous provinces such as Lao Cai, Yen Bai, Thai Nguyen, total rainfall was generally from 400-600mm, some places over 700mm, causing major floods in most rivers in the North.


Especially in Lao Cai, Yen Bai, the flood of the Red River, Cau River (Thai Nguyen, Bac Ninh), Day River (Ninh Binh), Tra Ly River (Thai Binh) has exceeded the historical flood (in Yen Bai, the flood level in 1968 exceeded by about 1.31m).



Floods on rivers in Bac Giang, Thai Nguyen, Ha Nam, Ninh Binh and the lower reaches of the Red River are all at very high levels above alert level 3 and the water level of the Red River in Hanoi is about 0.2m below alert level 3 (this is the highest flood level in over 20 years in Hanoi).


Prolonged heavy rain also caused landslides, flash floods and landslides in most mountainous and midland provinces of the North, especially in Lao Cai, Yen Bai, Cao Bang provinces,... causing serious flooding in low-lying areas in both mountainous, midland and delta areas of the North.


As of 6am on September 15, floods had killed 281 people and left 67 missing. Of these, Lao Cai had 168 dead and missing, Cao Bang had 58 dead and missing, Yen Bai had 54 dead and missing, Quang Ninh had 25 dead,... There were 1,921 injured, with Quang Ninh having the most injuries at 1,609.


The number of people who died from storms and floods after storm No. 3 was more than twice the total number of people who died from natural disasters in 2023 (131 deaths). The number of people missing in the whole year 23 was only 38.


Why do many landslides and flash floods occur?


Regarding floods and inundation, due to heavy rain, from September 8-9, water levels on many rivers and streams in the North rose rapidly. In particular, water levels on Thao River, Lo River, Thuong River, Gam River, Thai Binh River, the lower reaches of Red River, Luc Nam River, Hoang Long River... all exceeded alert level 3, some rivers exceeded alert level 3 by 3-4m.


In particular, the flood on Thao River (upstream of Red River) in Lao Cai and Yen Bai has exceeded the historical flood peak that existed for 53 years. The flood peak in Yen Bai reached 35.73m (4pm on September 10), 3.73m above alert level 3, exceeding the historical flood level in 1968 by 1.31m.


In Hanoi, the water level of the Red River was recorded at its highest level in 20 years. Rivers in the Red and Thai Binh river basins - the largest river system in the North - also experienced floods. Flooding on a large scale with many levels exceeding the threshold is also rare. According to statistics, 20/25 provinces and cities in the North experienced serious flooding.


Regarding flash floods and serious landslides in the provinces of Cao Bang, Hoa Binh, Lao Cai, Yen Bai, Quang Ninh... The Ministry of Natural Resources and Environment said the main cause was that the northern mountainous region had a lot of rain in the past 3 months, 40-60% higher than the average of many years.


According to the Ministry of Agriculture and Rural Development, the storm damaged 231,851 houses, concentrated in Quang Ninh 102,467, Hai Phong 103,227, Lao Cai 6,173, Lang Son 3,568, Bac Ninh 3,472, Bac Giang 3,289, Yen Bai 2,408.
Regarding agriculture, 190,358 hectares of rice, 48,727 hectares of crops, 31,745 hectares of fruit trees, and 3,269 aquaculture cages were flooded, damaged, and swept away. 21,786 livestock and 2,621,106 poultry died.
Due to the long duration of the storm and the sustained wind intensity, very strong gusts of wind caused many shops, offices, and schools to have their roofs blown off and damaged. Many advertising signs, telecommunication poles, and mobile broadcasting stations were broken and urban trees were uprooted and broken along the roads in Quang Ninh, Hai Phong, Hai Duong, and Hanoi.
Quang Ninh, Hai Phong, Thai Binh, Hai Duong, and Hanoi provinces suffered widespread power and communication outages.
The total economic loss was initially estimated at over 31,596 billion VND. Localities are currently continuing to review and update damage statistics.
Meanwhile, the total economic damage caused by natural disasters in 2023 is about 8,600 billion VND, in 2022 about 19,400 billion VND, in 2021 nearly 5,800 billion VND, and in 2020 nearly 40,000 billion VND.

(tuoitre.vn)



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