Bryan, a similar situation applies here, too. In 1956, when TV was in its infancy in Australia, we had a blossoming electronics industry, and most early TV sets were Australian made; now they're all made in SE Asia.
We used to manufacture a very capable light aircraft, the Victa Airtourer, but the government of the day would give the company no assistance, now it's made in New Zealand as the CT4.
Most white goods are imported, whereas once they were made here - and the list goes on.
As for clothing, I'm old enough to remember when all my clothes were made in Australia
, now they're made in China, Taiwan, Fiji, Indonesia etc, etc
Australia exports most of its coal and iron ore, then we pay through the nose for products made using those raw materials, and imported back into the country.
Peter.