2013 Typhoon Haiyan
8 November 2013, a super Typhoon Haiyan, even referred to as Super Typhoon Yolanda ravaged the land of the Philippines killing more than 7,000 people. The massive storm had a wind speed of more than 150 mph making it a super typhoon. Local officials reported that the Tacloban City on the island of Leyte was 90% wiped off.
The typhoon left its impact on the economy as the estimated disaster was at $5.8 billion. Major areas with corn, rice, and sugarcane harvest were destroyed affecting the farmers’ income and international trade of the country. Even the fishing communities got affected by the destruction of thousands of water vessels and associated equipment.