Pages

March 14, 2011

Current Japan Earthquake damage costs up to $309 billion



Japan's earthquake damage costs are ranging from $35 billion to $171 billion

UPDATE: Bloomberg March 23, 2011 - Japan’s government estimated the damage from this month’s record earthquake and tsunami at as much as 25 trillion yen ($309 billion), an amount almost four times the hit imposed by Hurricane Katrina on the U.S.

The destruction will push down gross domestic product by as much as 2.75 trillion yen for the year starting April 1. The figure, about 0.5 percent of the 530 trillion yen economy, reflects a decline in production from supply disruptions and damage to corporate facilities without taking into account the effects of possible power outages.
END UPDATE

estimates from different companies saying the losses could be about a $171 billion in total in the earthquake zone alone. That's not just for the clean up, but the economic losses too. Other people saying, probably much lower -- about $35 billion. But that would still make it one of the most expensive disasters ever. Second only, in fact, when you take inflation into account, to Hurricane Katrina.

Here are some more photos of the damage of the earthquake in Japan.




The Largest Earthquakes

Wikipedia lists of earthquakes by magnitude

Rank Date          Location              Name                           Magnitude


1    May 22, 1960  Valdivia, Chile  1960 Valdivia earthquake               9.5
2    Mar 27, 1964  Prince William Sound,Alaska, USA 1964 Alaska earthquake 9.2
3    Dec 26, 2004  Sumatra, Indonesia   2004 Indian Ocean earthquake       9.1
4    Nov 4, 1952   Kamchatka, Russia    1952 Kamchatka earthquakes         9.0
5    Mar 11, 2011  Sendai, Japan  2011 Sendai earthquake                   9.0
6    Nov 25, 1833  Sumatra, Indonesia   1833 Sumatra earthquake            8.8–9.2 (est.)
     Jan 31, 1906  Ecuador – Colombia   1906 Ecuador-Colombia earthquake   8.8
     Feb 27, 2010  Maule, Chile         2010 Chile earthquake              8.8
9    Jan 26, 1700  Pacific Ocean, USA/Canada 1700 Cascadia earthquake      8.7–9.2 (est.)
     July 8, 1730  Valparaiso, Chile     1730 Valparaiso earthquake        8.7–9.0 (est.)
     Nov 1, 1755   Lisbon, Portugal      1755 Lisbon earthquake            9.0 (est.)
     Feb 4, 1965   Rat Islands, Alaska   1965 Rat Islands earthquake       8.7
13   Aug 15, 1950  Assam, India, China   1950 Medog earthquake             8.6
     Mar 9, 1957   Andreanof Islands,Al  1957 Andreanof Islands earthquake 8.6
     Mar 28, 2005  Sumatra, Indonesia    2005 Sumatra earthquake           8.6

If you liked this article, please give it a quick review on ycombinator or StumbleUpon. Thanks
blog comments powered by Disqus