The Valencian employers’ association CEV has made the first provisional balance of the losses due to the damage caused by DANA on October 29 in the Valencian Community. The total amount already exceeds 9,365 million eurosalthough it is only about an initial estimate“since many companies have not yet been able to assess the full extent of the damage and there are several sectors for which it is still not possible to provide definitive figures.”
Among the impacts by sector, the impact of one of the great Valencian economic engines stands out especially, the agri-food industry. The Agri-Food Business Federation of the Valencian Community (FEDACOVA) places losses in its sector of more than 3,350 million.
A figure to which we must add the impact of DANA on the primary sector. The torrential rains affected 33,728 hectares in nine regions, with serious damage to citrus, persimmon, vegetable and nursery crops, as well as significant damage to agricultural infrastructure, machinery and livestock farms. The damage estimate made by the Valencian Farmers Association (AVA-ASAJA) amounts to 1,019 million euros.
In the industrial sector, the blow has also been devastating, especially for two sectors with a strong presence in the south of the metropolitan area of Valencia, metal and wood-furniture. According to the Valencian Metallurgical Business Federation (FEMEVAL), Losses in the metal sector amount to 1,488 million eurosaffecting 6,150 companies and putting the employment of 47,549 people at risk. For its part, the Federation of Wood and Furniture Companies (FEVAMA) It estimates damages of 1,300 million euros, highlighting the impact on 1,300 companies and 7,000 workers.
Other sectors such as plastic transformation, represented by the Valencian Association of Plastics Entrepreneurs (AVEP), estimate an initial impact of 61.7 million euros, while the chemical sector, represented by the Chemical and Environmental Association of the Chemical Sector of the CV (QUIMACOVA), indicates losses in facilities, logistics and trade that exceed 130 million euros.
Commerce, hospitality and services
Within the service sector, Confecomerç estimates the losses recorded in the commerce sector at more than 1,500 million. In the case of the hospitality industrya first approximation places the losses at more than 300 million. The Association of Supermarkets of the Valencian Community (ASUCOVA), for its part, places them at 95 million. The personal image sector (hairdressers, beauty salons and barbershops) estimates losses of 15 million euros, with more than 350 professionals affected. The same figure is given by the training sector, represented by the Business Association of Training Centers of Valencia (CECAP-CV). Meanwhile, bakers and pastry chefs in the province report damages amounting to 11 million euros.
The Valencian Federation of Transport and Logistics Entrepreneurs (FVET), figure at 47 million euros the losses calculated so far. The taxi sector, for its part, estimates the losses recorded at more than 8.3 million, and the Valencia Passenger Transport Business Association (ADIVA) reports losses worth 25 million.
The economic consequences also extend to tourism, where there is concern about the recovery of events and groups scheduled for the coming months in the city of Valencia.
More than 21,000 employees at Erte
The consequences on employment amplify the damage caused. The total number of ERTES registered amounts to 1,870while the number of workers covered by an ERTE (whether suspended or reduced working hours) is 21,295. In addition, there have been registered 23 ERES, which affect 125 workers.
CEV explains that the loss figure could increase significantly when a more realistic assessment can be made. Furthermore, he points out that Calculated losses do not include lost profits pending to be quantified before the forced stoppage.
Specifically, businessmen and sector representatives have highlighted the need for a greater effort for reconstruction, requesting more powerful and agile support to help mitigate the devastating effects of DANA.
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