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Order?

Posted by Sphinz on September 21, 2003

1.This volcano has a time frame where it erupts in the order of every 500 to 1,000 years.

2.The "Ring of Fire" is a ring around the Pacific Ocean where something on the order of 60% of the world's volcanoes lie.

Could you please explain "order" in both cases?
Which word can replace it?