There can also be important economic externalities, which result in use costs (e.g. subsidence and salination), as well as damages to non-use values, such as the life-support function of water (Figure C.l). In Middle East and North Africa (MENA) countries, the estimated economic cost (foregone extractive uses) of full groundwater depletion is in the range of 1 to 2% of GDP (see below). Between 1980 and 2009, global economic losses were estimated at USD 15-30 billion per year for floods and USD 10-15 billion per year for droughts (OECD, 2012). Damage from floods in the United States is now estimated to be USD 5.2 billion each year (Brody et al.,