Japan earthquake : damages for at least 120 billion dollars

The Japan earthquake and tsunami have produced between 120 and 230 billion dollars of damages.

These are the estimated data from the World Bank, that calculate the Tokyo government in 2011 will spend more than 12 billion dollars for reconstruction, and much more the next years.

The World Bank has stressed the uncertainties due to the nuclear crisis and said that an initial decline in domestic demand will undermine trade with neighboring countries.

According to the World Bank, Japan will need five years for the reconstruction.

The disaster will probably cut this year up to 0.5 percentage points of the Japan’s economic growth.

The damage to homes and infrastructure – says the Bank – are unprecedented.

Growth is expected to return, and reconstruction in the coming quarters, which could last five years, even accelerate.