Australia's manufacturing contribution to GDP witnessed a steady decline from 13.8% in 1990 to 5.4% in 2022. The early 1990s saw moderate decreases, stabilizing at around 12.5% by 1992, yet subsequent years showed a notable drop, reaching 7.0% by 2012. This downtrend reflects structural shifts towards a service-based economy, compounded by offshoring and competition from low-cost manufacturing countries. Despite industry efforts to retain high-tech manufacturing, the sector’s GDP share continues to decrease, as evidenced by the 5.4% figure in 2022.
For a deeper dive into the topic, explore Australia’s unemployment rate evolution, Australia’s annual GDP, Australia’s service sector share in GDP.
