A recent report by the Food and Agriculture Organization of the United Nations (FAO) revealed that over the past thirty years, natural disasters [4] have caused economic losses amounting to 3 800 billion USD to the agricultural sector. This is equivalent to an average loss of 123 billion USD per year, or 5% of the annual global GDP.
Experts suggest that this cost would be much higher if the report were to include damage to the fishing, aquaculture and forestry sectors.
Broken down by product category, the average annual losses for cereals stand at 69 million tons, followed by fruit and vegetables and sugar crops (40 million tons each).
The average losses for meat, dairy products and eggs are estimated at 16 million tons.
Breakdown of total losses by region: Figures in billions USD| Region | Cost of losses | Percentage |
|---|---|---|
| Asia | 1 720 | 45% |
| Americas | 828 | 22% |
| Europe | 659 | 17% |
| Africa | 578 | 15% |
| Oceania | 55 | 1% |
| Total | 3 840 | 100% |
According to the study, the number of disasters worldwide has climbed from around 100 in the 1970s to almost 400 in the last 20 years.