UNDP Estimates $6.7 Billion Damage After Venezuela Earthquakes

UNDP estimates that direct physical losses range between $4.7 billion and $8.7 billion, with damage to homes and commercial assets accounting for the largest share of the destruction.

The United Nations Development Programme (UNDP) has released a preliminary assessment showing that the powerful earthquakes that struck Venezuela on 24 June caused an estimated $6.7 billion in direct physical damage, highlighting the enormous humanitarian and economic impact of one of the country's most destructive recent disasters.

The assessment was carried out using RAPIDA, UNDP's AI-powered Rapid Digital Assessment system, which combines satellite imagery, seismic modelling and population data to provide an early picture of the damage within hours of a crisis. According to the analysis, the estimated losses represent around 6% of Venezuela's gross domestic product (GDP).

The two earthquakes, measuring magnitude 7.2 and 7.5, struck near Venezuela's northern coast and were felt across densely populated and economically important areas, including Caracas and the states of La Guaira, Carabobo, Miranda, Yaracuy and Aragua. UNDP estimates that around 1.7 million structures were located within the affected areas, with the highest concentration found in the hardest-hit regions.

Millions Exposed as Rescue Operations Continue

The preliminary assessment indicates that approximately 8.6 million people experienced at least moderate ground shaking across northern Venezuela, while around 2.1 million people were exposed to even stronger shaking capable of causing extensive structural damage.

As of 26 June, the official death toll had reached 920, though authorities expect that figure to rise as emergency teams continue search and rescue operations in damaged communities. Many affected areas are still being assessed, making it difficult to determine the full extent of casualties and displacement.

UNDP estimates that direct physical losses range between $4.7 billion and $8.7 billion, with damage to homes and commercial assets accounting for the largest share of the destruction. The organization noted that these figures do not yet include losses related to damaged infrastructure, business disruptions, reduced economic activity or the long-term cost of rebuilding communities.

Based on previous disaster assessments, the total economic impact is often estimated at 1.5 to three times higher than the value of direct physical damage once indirect losses and reconstruction needs are fully calculated.

Satellite observations have also detected possible power outages across parts of Carabobo, La Guaira, Caracas and Aragua, where significant reductions in night-time lighting were recorded after the earthquakes, indicating disruptions to electricity services in several locations.

AI Technology Helps Guide Emergency Response

UNDP Resident Representative in Venezuela Luis Francisco Thais said rapid and reliable assessments are essential during the first days after a disaster because they allow authorities and humanitarian organizations to make faster, evidence-based decisions that better support affected communities.

He added that every disaster also creates an opportunity to strengthen resilience by incorporating risk reduction into future development planning. Recovery efforts, he said, should not simply replace damaged infrastructure but should also help communities become safer and more prepared for future emergencies.

RAPIDA has become one of UNDP's key crisis response tools by combining satellite imagery with Geographic Information Systems (GIS) technology to deliver rapid situational awareness within 72 hours of a disaster. High-resolution satellite images help identify damaged buildings, locate vulnerable populations and guide emergency responders toward areas that need urgent assistance.

UNDP said additional satellite analysis is already underway as clearer imagery becomes available. The updated assessments will provide authorities with more detailed information on structural damage, casualties, displacement and priority recovery needs, helping national and local agencies coordinate relief operations while laying the foundation for long-term reconstruction across the affected regions.