The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, fishing, forestry and mining.[1][2][3]
The primary sector tends to make up a larger portion of the economy in developing countries than it does in developed countries. For example, in 2018, agriculture, forestry, and fishing comprised more than 15% of GDP in sub-Saharan Africa[4] but less than 1% of GDP in North America.[5]
In developed countries the primary sector has become more technologically advanced, enabling for example the mechanization of farming, as compared with lower-tech methods[a] in poorer countries.[6] More developed economies may invest additional capital in primary means of production: for example, in the United States corn belt, combine harvesters pick the corn, and sprayers spray large amounts of insecticides, herbicides and fungicides, producing a higher yield than is possible using less capital-intensive techniques. These technological advances and investment allow the primary sector to employ a smaller workforce, so developed countries tend to have a smaller percentage of their workforce involved in primary activities, instead having a higher percentage involved in the secondary and tertiary sectors.[7]
^Chand, S. N. (2006). Dictionary of economics. New Delhi: Atlantic Publishers & Distributors. p. 268. ISBN 81-269-0535-2. OCLC 297507928.
^Kjeldsen-Kragh, Søren (2007). The Role of Agriculture in Economic Development: The Lessons of History. Copenhagen Business School Press DK. p. 73. ISBN 978-87-630-0194-6.
^"Agriculture, forestry, and fishing, value added (% of GDP) | Sub-Saharan Africa". World Bank Open Data. 2018. Retrieved 2019-07-14.
^"Agriculture, forestry, and fishing, value added (% of GDP) | North America". World Bank Open Data. 2018. Retrieved 2019-07-14.
^"Employment in agriculture (% of total employment) (modeled ILO estimate) - Data". data.worldbank.org.
^H Dwight H. Perkins: Proceedings of the Academy of Political Science, Vol. 31, No. 1, China's Developmental Experience (March 1973)
Cite error: There are <ref group=lower-alpha> tags or {{efn}} templates on this page, but the references will not show without a {{reflist|group=lower-alpha}} template or {{notelist}} template (see the help page).
and 27 Related for: Primary sector of the economy information
quinary sector. The term reflects the analysis ofthe three-sector model oftheeconomy, in which theprimarysector produces raw materials used by the secondary...
One classical breakdown of economic activity distinguishes three sectors: Primary: involves the retrieval and production of raw-material commodities,...
In macroeconomics, the secondary sectoroftheeconomy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses...
informal economy (informal sector or grey economy) is the part of any economy that is neither taxed nor monitored by any form of government. Although the informal...
Wiktionary, the free dictionary. 1O or 1-O or 1º (the digit "1" and the letter "O") may refer to: 1º Sector, theprimarysectoroftheeconomy 2017 Catalan...
needed] Theprimarysectoroftheeconomy (including agriculture, forestry, mining and fishing) constitutes about 5% of Irish GDP, and 8% of Irish employment...
economy is based on the service (54.1%), agriculture (21.7%), and industrial (24.2%) sectors. The country has some natural resources, and theeconomy...
economy with notable public sector in strategic sectors. It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power...
(GVA) is the measure ofthe value of goods and services produced in an area, industry or sectorof an economy. "Gross value added is the value of output...
technology—the knowledge economy. In modern economies, these phase precedences are somewhat differently expressed by the three-sector model: Primary: Involves...
markets and operate in all the economic sectors. As a field of study, social economy studies the relationship between economy and social behavior. It analyzes...
to slow down the decline whilst sunrise industries develop. Sunrise industry Primarysectoroftheeconomy Secondary sectoroftheeconomy Christian Schiller...
public sector. It is the India's sixth-largest economy by nominal GDP. West Bengal is theprimary business and financial hub of Eastern India. The state...
dumped in bodies of water, or even those where pesticides and similar inadvertently leak into water sources. Primarysectoroftheeconomy (the raw materials...
The private sector is the part oftheeconomy, sometimes referred to as the citizen sector, which is owned by private groups, usually as a means of establishment...
been funded by the Falklands government, without aid from the United Kingdom. Theprimarysectoroftheeconomy accounts for most ofthe Falkland Islands'...
together, the manufacturing and financial sector make up more than half ofthe national GDP. Theprimarysector contribution to the GDP ofthe country is...
its plan to diversify theeconomy and maximize its huge natural gas reserves, which serve as theprimary feed stock for thesector. Accordingly, careful...
Theeconomyof Canada is a highly developed mixed economy, with the world's tenth-largest economy as of 2023[update], and a nominal GDP of approximately...
Global Information