HTH -- Haiti Earthquake

March 21, 2011. Earthquake and tsunami recovery in Japan could take five years

SOURCE: Altegrity Risk International

The World Bank said in a report on March 21st that it may take up to five years to rebuild from the calamitous March 11th earthquake and tsunami that caused some US$235 billion in damages, reports indicated. The disaster reportedly cost some 0.5% of gross domestic product (GDP) growth in 2011. Officials at the bank, however, expect growth to pick up again in the second half of 2011. The northeast region of Japan that was particularly affected by the disaster is home to ports, steel mills, and manufacturing firms of automobile and electronic components.