Over the last 35 years, the contribution of manufacturing to Australia’s overall economic activity has declined.
While this trend is not unique to us, the reality is that Australia had a much smaller manufacturing base as a percentage of GDP than the average of advanced economies to begin with, making the relative decline all the more impactful.
According to figures from the World Bank, Australia’s manufacturing sector as a proportion of GDP is less than half the OECD average.
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