Economic Snapshot of China from an Australian Perspective

China is one of the major economies in the world with a GDP of over $14.0 Trillion in 2019. Many of the developed countries depend on China for manufacturing goods cheaply and for selling high-value goods including luxury products. For instance, European luxury goods purveyors like LVMH Moet Hennessy Louis Vuitton SA(LVMUY), Kering (PPRUY), Compagnie Financière Richemont (CFRUY), etc. increasingly depend on Chinese consumers than American or European consumers for growing sales. Hence it is wise for global investors keep an eye on the economy of China.

The following is a neat snapshot of the Chinese economy from an Australian perspective. China is an important trade partner for Australia. The main exports to China are coal, iron ore and natural and the major imports from China are manufactured goods like computers.

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Source: DFAT

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