August 30, 2011. Cost of New Zealand earthquakes rises to US$17 billion
| SOURCE: | Altegrity Risk International |
The cost of the 7,500 earthquakes and aftershocks in Christchurch since September 2010 rose to US$17 billion, the New Zealand government said on August 30th, when it nearly doubled its damage estimates. The cost of the earthquake equates to about 10% of New Zealand's annual economic output. The most significant of the earthquakes occurred in February 2011 and killed 181 people.
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