Japan Quake Losses Pegged At $211 Billion

Above, the Godaido Temple at Matsushima Bay. Photo by Armand Vaquer.

The News.com has an article on the dollar cost of the March 11 earthquake, tsunami and radiation leakage. It is pegged at $211 billion.

This includes property losses, losses to the agricultural, fishing and tourism industies along with infrastructure losses.

TOKYO: Japan’s economy has sustained colossal loss of $211 billion as of October 8, 2011 in the wake of the Great East Japan earthquake followed by tsunami. The leakage of the nuclear power plants has also damaged the exports of the country and other sectors of economy that include agriculture and fishery particularly the tourism industry.

The fishery industry has been damaged the most affected because of the contamination of the water and soil, Yozabura Ishihara, member of House of Representatives of Japan told this to The News here on Friday. “Now the central government has allocated $10 billion from its budget just for the decontamination of the water and soil and to this effect the process has begun.” To a question he said the unemployment rate, which before the tragedy was at 4.3 percent, has increased to 6.5 to 7 percent particularly in disaster affected prefectures of Miyagi and Iwat.

To read the full article, go here.