damaged-building-Italy

Photo of damaged building with rubble on the ground.

The magnitude-5.9 May 2012 earthquake in Emilia, Italy, had 27 casualties. The economic damage was significant, estimated at $16.25 billion (USD), approximately 0.8% of that year’s GDP. Emergency measures accounted for $860 million (USD), damage to residential homes $4.03 billion (USD), and damages to companies $6.35 billion (USD), which constituted approximately 40% of total losses (Codogno, 2016). Credit: Mario Fornasari from Ferrara, Italy, CC BY 2.0, via Wikimedia Commons

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