Earthquake and tsunami, Japan (2011)

Cost: $235 billion (by the World Bank)

So far, 8,649 people have been confirmed dead and another 13,262 are missing since the 9.0-magnitude quake struck off the coast near Sendai, Japan, on March 11, 2011. The degree of damage caused by the earthquake and resulting tsunami was enormous. Videos show that almost no parts of any structures were left standing in the worst affected areas.

Failure of the cooling system at the Fukushima Nuclear Power Plant intensified the situation, resulting in evacuation of about 200,000 people residing around the plant.

The World Bank on March 21 said that damage might reach $235 billion, while Japan's government had a higher estimate of $309 billion. The damage estimate could go even higher as it does not include losses in economic activity from planned power outages or the broader impact of the nuclear crisis, making the disaster world's most expensive on record.

 Kobe earthquake, Japan (1995)

Cost: $100 billion (by the World Bank)

The Great Hanshin earthquake, or Kobe earthquake, occurred on Jan. 17, 1995, in the southern part of Hyogo Prefecture, Japan. The focus of the quake was located 16 km (10 miles) beneath its epicenter, 20 km (12 miles) away from the city of Kobe. Measured at 6.8 magnitude, the earthquake killed nearly 6,500 people, making it the deadliest disaster in the world that year.

The Kobe quake caused about $100 billion in destruction, according to an calculation by the World Bank, but Japanese trade rebounded within a year, with imports recovering fully and exports back to 85 percent of normal levels.