This indicator shows the level of economic damage attributed to the four investigated natural hazard types (flood, windstorm, drought, earthquake) in total, showing an average of yearly impacts resulting from these hazards, covering the period 1995-2017. The economic damage due to natural hazard events is the result of combining damage costs taken from public databases, regional input-output tables published by the PBL Netherlands, as well as regional gross value added data from Eurostat. The indicator is expressed in proportion of yearly NUTS 3 GVA, by NUTS 3 regions across the European territory. This dataset is a result of ESPON TITAN project. The scale of the dataset is NUTS 3 and the spatial coverage includes the EU-27 countries (except for Croatia) plus UK.
Theme(s): Economy, finance and trade - Environment and Energy - Environment, Climate and Energy
The economic losses were calculated separately for each of the four natural hazard types (droughts, earthquakes, floods, windstorms). To calculate total economic losses for each NUTS2 regions, losses due to the four different types were summed up; and to derive Economic damage due to four natural hazard types, average of yearly impacts 1995-2017 (Total_ec), the ratio of this total losses (sum) was divided by the regional GVA.
The indicators were first calculated separately for each years between 1995-2017 (yearly values), and in order to provide average yearly values, simple average of yearly values was calculated for the period 1995-2017.