The catastrophic earthquakes of 25 April and May 12, 2015 led to unprecedented loss of lives and properties. Approximately 9,000 people lost their lives, more than 22,300 people were injured, about 6,00,000 houses were damaged and they affected millions of people. Additionally, more than 7,000 schools and 3,000 government buildings were demolished.
The total value of disaster effects (damages and losses) earthquakes is estimated to be about NRs. 706 billion (US$ 7 billion) that is equivalent to about one third of the Gross Domestic Product (GDP). Out of the total value, the share of destroyed physical assets accounts for NRs. 517 billion (76% of the total effects). The PDNA report reveals that the share of the disaster effects across sectors was estimated as: social sector (58%), productive sector (25%), infrastructure sector (10%) and cross-cutting issues (7%).
Similarly, the earthquake had negative impact on production, trade, agriculture, tourism, thereby weakening the national economy. The average economic growth was about 3% in fiscal year 2014/15, a negative growth rate of -0.77 and recovered to 0.01 in 2015/16 and has picked up slowly and is projected to be about 6.94% in 2016/17 fiscal year.
The total value of disaster effects (damages and losses) earthquakes is estimated to be about NRs. 706 billion (US$ 7 billion) that is equivalent to about one third of the Gross Domestic Product (GDP). Out of the total value, the share of destroyed physical assets accounts for NRs. 517 billion (76% of the total effects). The PDNA report reveals that the share of the disaster effects across sectors was estimated as: social sector (58%), productive sector (25%), infrastructure sector (10%) and cross-cutting issues (7%).
