After reports on the recent floods in Queenland, there came a cyclone which caused large scale damage. Cyclone Yasi, which was a category-five cyclone and moved at speeds up to 280 km per hour, ripped buildings and power cables apart. Despite the severe damages caused and the large number of homes destroyed, no life has been lost so far.
This cyclone would cost the Australian economy a lot of money due to the immense amount of damages wreaked. Firstly, the government has to pay for the high cost of repair of utilities and infrastructure like water pipes, electrical cables, street lamps and roads. Private properties like houses and cars would also have been damaged by the strong winds.
Another type of damage that would do great harm to the Australian economy would be the damage of crops. During the floods, the crops would be "drowned" by the water. Moreover, the strong winds might cause the crops to be uprooted. These damages could affect the agricultural sector of the Australian economy and prices of food in countries that import Australian crop would rise.
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