- Australia’s gross domestic product grew by 1.8% in the first quarter of 2021 and 1.1% compared with the same period last year.
- In Australian dollar terms, the RBA Index of Commodity Prices has risen by more than 30% since July 2020, and in monthly terms are at their second highest level on record.
- Analysts had expected Australia to be badly hit by Chinese actions that would reduce Australian imports – from levying tariffs to imposing other bans and restrictions.
- Even with a tenuous relationship with Beijing, Australia’s trade and export ties to China remain favorable.
For further details see:
Australia's Commodity Economy Bounces Back