Vietnam losing $14 billion yearly due to climate change

Every year climate change costs Viet Nam five per cent per annum of its Gross Domestic Product (GDP), equivalent to US$14 billion of the 2010’s GDP of US$280 billion, according to the Climate Vulnerability Monitor study conducted by the independent organization DARA International.

The total economic cost was forecast to rise to 11% in 2030, which might equal to US$165 of the estimated US$1.5 trillion GDP. Viet Nam is assessed as having acute multi-dimensional climate vulnerability.

Due to climate change, production cost rises to US$8 billion per year, the fishery sector incurs a US$1.5 billion damage, agriculture loses US$0.5 billion, flooding and landslides cause damage of US$200 million and US$150 million arises as costs for cooling due to rising temperatures.

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