NEW YORK (CNNMoney.com) -- The massive earthquake that struck Chile this weekend did between $15 billion and $30 billion in damage to the South American nation's economy, according to a risk management assessment firm.
Oakland, Calif.-based EQECAT said the damage wreaked by Saturday's 8.8 quake off the coast of southern Chile amounts to between 10% and 15% of the nation's gross domestic product.
"While this constitutes a major disaster, Chile's widespread adoption and enforcement of modern, seismic-resistant building practices has mitigated the potential for devastation," the company said in a statement issued late Saturday.
EQECAT said more than half of the damage total is expected to come from the state of Santiago, which includes the capital, which has a population of 5 million.
About 55% to 65% of the damage is believed to be to residential structures, with 20% to 30% done to commercial buildings and 15% to 20% done to industrial facilities, according to EQECAT.
The death toll from the quake stood at 708, Chilean President Michelle Backelet said Sunday, who added that she's certain the number will grow. 
| Overnight Avg Rate | Latest | Change | Last Week |
|---|---|---|---|
| 30 yr fixed | 3.80% | 3.88% | |
| 15 yr fixed | 3.20% | 3.23% | |
| 5/1 ARM | 3.84% | 3.88% | |
| 30 yr refi | 3.82% | 3.93% | |
| 15 yr refi | 3.20% | 3.23% |
Today's featured rates:
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 32,627.97 | -234.33 | -0.71% |
| Nasdaq | 13,215.24 | 99.07 | 0.76% |
| S&P 500 | 3,913.10 | -2.36 | -0.06% |
| Treasuries | 1.73 | 0.00 | 0.12% |
| Company | Price | Change | % Change |
|---|---|---|---|
| Ford Motor Co | 8.29 | 0.05 | 0.61% |
| Advanced Micro Devic... | 54.59 | 0.70 | 1.30% |
| Cisco Systems Inc | 47.49 | -2.44 | -4.89% |
| General Electric Co | 13.00 | -0.16 | -1.22% |
| Kraft Heinz Co | 27.84 | -2.20 | -7.32% |
|
Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More |
Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More |
Honda and General Motors are creating a new generation of fully autonomous vehicles. More |
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More |
Whether you hedge inflation or look for a return that outpaces inflation, here's how to prepare. More |
