Sydney  - Australian stocks tumbled Friday on news from Beijing that growth in China's economy had almost halved to 6.8 per cent in the year to December.

The ASX 200 lost 144 points, or 4.1 per cent, to 3,342. China's National Bureau of Statistics put out the figures that showed the likelihood of the first economic reversal in 16 years.

"They're worse than the market expectations and they confirm that the Chinese boom that has supercharged the Australian economy over the past five to seven years is receding rapidly," Finance Minister Lindsay Tanner said.

Coal and iron ore, the biggest exports, are expected to fall both in volume and value as China's flagging economy sucks in fewer raw materials and its importers demand lower prices from Australian suppliers. (dpa)