The manufacturing industry was far from dead in the country down under. The face of the Australian manufacturing sector has been deemed not dead, just changing.
Big manufacturing corporations have been closing down but many smaller manufacturers have risen to make up for the loss. With smaller operations, this new breed of manufacturers have met global demands through the use of advanced technology.
The current industry saw companies like Rode Microphones, who have been making 90% of the 36,000 units sold every month at its own factory in Silverwater. Peter Freedman, Managing Director and Founder of Silverwater, built his state-of-the-art factory steadily through the years. Freedman opted to invest at home rather than get his products made in China to ensure the quality of his company's output.
News of the manufacturing sector dying in the country of Australia spawned from news of Ford Motor Co announcing the closure of their manufacturing operations in the country. General Motors Co has also threatened to close down unless they receive more support from the Australian government.
Manufacturing fell to 7% of Australia's current Gross Domestic Product (GDP), unlike the double-digit figures registered during the 60s. Other countries like the United States and Britain have accounted manufacturing 11-12% and 30% in China, respectively in their GDPs. However, the sector remained as a major employer in Australia with 940,000 employees in 88,000 manufacturing businesses.
Join the Conversation