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This report explores the potential economic impacts of foot-and-mouth disease (FMD) outbreaks under several scenarios. Export trade in animal products ceases until trading partners allow resumption. Export losses together with estimates of FMD eradication and compensation costs and tourism impacts form the basis of shocks for macroeconomic modelling. The net present value loss in real GDP over June years 2012 to 2020 for the large scenario is estimated at $16.2 billion.