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In Graphics | What’s the cost of war and violence on global economy?
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  • In Graphics | What’s the cost of war and violence on global economy?

In Graphics | What’s the cost of war and violence on global economy?

FP Explainers • October 3, 2024, 11:44:44 IST
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West Asia is on the boil and there is no end in sight to the Russia-Ukraine conflict. Wars bring death and destruction and disrupt economic activity. $19.1 trillion – that’s how much violence cost the world in 2023; it’s higher than China’s GDP

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In Graphics | What’s the cost of war and violence on global economy?
Smoke rises from the site of an Israeli airstrike in Dahiyeh, Beirut, Lebanon. AP

A war is brewing in West Asia. Israel continues to bomb Lebanon’s capital Beirut and its army is on the ground clashing with Hezbollah. Tensions also escalated with Iran after it fired a barrage of missiles on the Jewish nation. Now there is fear that Israel could hit back.

The Israel-Hamas war has been grinding on for a year with the death toll in Gaza crossing 40,000.

Beyond West Asia, Russia and Ukraine have been at war for more than 2.5 years now.

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The conflicts impact not only the nations involved but also the economies around the world. Here’s how.

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