Aussie manufacturing sector expected to revive after COVID-19
The COVID-19 pandemic is expected to lead to a resurgence in Australian made and manufactured products, according to experts.
“The current crisis has really exposed our vulnerability and the gaps in our manufacturing supply chains,” manufacturing expert professor Roy Green told A Current Affair.
Professor Green says with sudden restrictions in overseas markets and a global demand for products, Australia’s over-reliance on international imports has been exposed.
About 20 per cent of Australia’s imports currently come from China, primarily because it is cheaper to manufacture there.
Yet now many countries like Australia are paying the price of opting for cheaper offshore production.
“It shows us that we really need to revive and reinvent manufacturing. And it won’t be a return to the old style of mass production. It’s much more likely to be more specialised firms,” professor Green said.
The manufacturing industries that have remained in Australia have proven invaluable in the crisis, stepping up to the challenge of catering to the country’s needs.