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Economy

Australia's GDP bounce defies China's trade pressure

Exporters find alternative customers as Morrison's COVID response pays off

A containership at Sydney's Botany Bay in October: Amid the coronavirus pandemic, Australian exporters faced escalating Chinese trade restrictions in 2020.   © Reuters

SYDNEY -- Australia's economy grew a brisk 3.1% last quarter, marking the first time gross domestic product has expanded more than 3.0% for two consecutive terms in the 60-year history of the national accounts.

Although annual output still declined 1.1% for 2020, the performance in the second half was a ringing endorsement of the country's rapid policy response to COVID-19 and showed the economy's resilience in the face of intense trade pressure from China.

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