Reported economic loss is highest for floods related hazards – more than 350 millions USD.

During the past two decades, no earthquake events were reported. However, this does not mean that Macedonia is not vulnerable to earthquakes. The most recent and destructive earthquake took place on July 26, 1963 and the capitol Skopje was affected.  Despite this earthquake isn’t part of this study, it was with magnitude 6.1, killed 1,070 people and wounded 3,330, causing extensive damage to the city.

As per the National Geophysical Data Center, earthquake has caused an economic loss of more than USD 5 million in the country during the last 33 years. Macedonia is incurring an annual average economic loss of USD 25 million (0.55 per cent of GDP).