While he said it was still too early to predict the full economic consequences, Mr Swan said Australian exports could feel the pinch in the coming months."There is likely to be a short-term impact on some of our exports in coming quarters," he said in weekly economic note.
"For instance, Japanese demand for steel-making inputs could fall in the near term following the closure of several large steel-making plants and the disruption to Japanese manufacturing.
"But Japanese demand for energy products such as LNG and thermal coal could increase."
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He stressed that economic predictions remained unreliable given the unfolding nuclear crisis facing Japan.
