It was not that our exports were unaffected - total exports fell by 6 per cent in 1997/98 and exports to Asia by 19 per cent - but that strong domestic demand offset that effect.
GDP  Year-ended change, constant prices %  %  8  8 Australia*  4  4  0  0 NJA  (ex China)  -4  -8  -4  1997  1998  1999  2000  2001  2002  2003  -8  * Non-farm GDP Sources: ABS; CEIC  BIS Review 31/2003  1  The second episode where Australia’s relative stability showed up was during the recent recession that occurred among the major economies in 2001.