IMPACT OF NATURAL DISASTERS
JAPANESE EARTHQUAKE AND TSUNAMI
The Japanese earthquake and tsunami occurred on 11 March 2011. On a month to month basis, original and seasonally adjusted series can be impacted by a number of factors including commodity prices, exchange rates, supply constraints, consumer confidence and unusual influences. It is not usually possible to quantify the impact of a specific event, like the Japanese earthquake and tsunami, on the export and import series. The impact of these events will be closely monitored by the ABS.
Between May and June 2011 merchandise imports from Japan rose $425m (39%) after rising $313m (40%) between April and May 2011. The major components contributing to the rise in June 2011 were:
- non-industrial transport equipment, up $246m (80%), after rising $190m between April and May 2011
- fuels and lubricants, up $71m (47%), after rising $150m between April and May 2011.
Between May and June 2011 merchandise exports to Japan rose $348m (9%). The major components contributing to the rise were:
- other non-rural, up $128m (15%)
- metal ores and minerals, up $118m (12%)
- coal, coke and briquettes, up $111m (9%).