The mining industry is the largest contributor to the Australian economy as the country is rich in natural resources such as gold, silver, coal, iron ore and many others.
This indirectly causes the Australian dollar to be easily influenced by its bubble sector.
Progress in Australia's mining sector has contributed to the investment, employment, export and income sectors of the country that Koalas are well known for.
The export value of this Australian commodity is estimated to be around 60% to 70% of Australia's total export sources and China is its main trading partner with a budget of 83% of iron ore exports recorded in 2020.
Therefore, if China experiences an economic downturn, it will indirectly affect the Australian economy and currency.
