The damage caused by the Canterbury earthquakes was the second most expensive in the world last year.

This year's World Disasters Report, released today by the International Federation of Red Cross and Red Crescent Societies, said that last year was the most expensive of the past decade for disaster costs.

However, it had the fewest disasters.

In all, 336 disasters cost countries $446.8 billion.

More than half of the costs were registered in Japan, where the March 2011 quake and tsunami caused $256b in damages.

Next to the damages caused by the tsunami, the Canterbury quakes were the second most expensive in terms of reported damage from quakes around the world.

The February 2011 quake cost $18b, while the September 2010 quake cost $3.6b, the report said.

Turkey's 2011 earthquake was third at $1.85b.

The report can be found here.

- © Fairfax NZ News

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