Traffic accident casualties caused the nation a social loss of more than NT$470 billion (US$15.84 billion) last year, an Institute of Transportation study estimated.
The number rose by nearly NT$100 billion when compared with a previous study by the Ministry of Transportation and Communications think tank in 2010.
Chang Kai-kuo (張開國), head of the institute’s transportation safety division, said that casualties caused by traffic accidents lead to lower productivity and quality of life on top of medical costs.
Chang said that 219,651 accidents occurred in 2010, killing 2,047 people and injuring 293,764.
He said that the institute estimated that they led to an aggregate social loss of NT$381.7 billion, attributing NT$32.2 billion to fatal accidents and NT$349.5 billion to those causing injuries.
The institute also found that the accident-related social loss in 2010 equaled 2.8 percent of the GDP that year — higher than that of Thailand, the UK and the US.
Chang added that 1,928 people died last year in traffic accidents, while 373,568 people were injured. He said the social loss could surpass NT$474.8 billion, which would account for 3.3 percent of GDP last year. The figure does not include air traffic deaths.
“Even though fewer people lost their lives in traffic accidents last year, there were more injured individuals than in 2010,” he said.
The study said that each person killed in a traffic accident can result in NT$16 million in losses, while the losses for every person injured is estimated at NT$1 million.
Additional reporting by CNA
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