Australia’s manufacturing industry makes up around 6% of the nation’s gross domestic product (GDP) annually. The sector also provides Australians with over 862,200 jobs and is worth over $30 billion. In 2017 in New Zealand, the manufacturing industry made up $23 billion (12%) of the country’s gross domestic product and directly employed 241,000 people. Petroleum refining and food production make up the majority of Australia’s manufacturing industry, followed by chemical, furniture, textile, beverage and plastic manufacturing.
While the manufacturing industry has declined in recent years, current government strategies aimed at supporting Australia’s economic recovery from the COVID-19 pandemic place a focus on rebuilding the manufacturing industry and shifting its market focus, aiming to increase investments made in the industry and its profitability.