This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. Find sources: "Secondary sector of the economy" – news · newspapers · books · scholar · JSTOR(January 2009) (Learn how and when to remove this message)
Economic sectors
Three-sector model
Primary sector (raw materials)
Secondary sector (manufacturing)
Tertiary sector (services)
Additional sectors
Quaternary sector (information services)
Quinary sector (human services)
Theorists
AGB Fisher
Colin Clark
Jean Fourastié
Sectors by ownership
Business sector
Private sector
Public sector
Voluntary sector
v
t
e
In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction.
This sector generally takes the output of the primary sector (i.e. raw materials like metals, wood) and creates finished goods suitable for sale to domestic businesses or consumers and for export (via distribution through the tertiary sector). Many of these industries consume large quantities of energy, require factories and use machinery; they are often classified as light or heavy based on such quantities. This also produces waste materials and waste heat that may cause environmental problems or pollution (see negative externalities). Examples include textile production, car manufacturing, and handicraft.[1]
Manufacturing is an important activity in promoting economic growth and development. Nations that export manufactured products tend to generate higher marginal GDP growth, which supports higher incomes and therefore marginal tax revenue needed to fund such government expenditures as health care and infrastructure. Among developed countries, it is an important source of well-paying jobs for the middle class (e.g., engineering) to facilitate greater social mobility for successive generations on the economy. Currently, an estimated 20% of the labor force in the United States is involved in the secondary industry.[2]
The secondary sector depends on the primary sector for the raw materials necessary for production. Countries that primarily produce agricultural and other raw materials (i.e., primary sector) tend to grow slowly and remain either under-developed or developing economies. The value added through the transformation of raw materials into finished goods reliably generates greater profitability, which underlies the faster growth of developed economies.
20 largest Countries by Industrial Output (in PPP terms) according to the IMF and CIA World Factbook, at peak level as of 2020 [citation needed]
Economy
Countries by Industrial Output (in PPP terms) at peak level as of 2020 (billions in USD)
(01) China
11,261
(—) European Union
5,729
(02) United States
4,093
(03) India
2,604
(04) Japan
1,719
(05) Indonesia
1,549
(06) Russia
1,422
(07) Germany
1,364
(08) South Korea
912
(09) Saudi Arabia
840
(10) Mexico
835
(11) Turkey
763
(12) Brazil
720
(13) United Kingdom
639
(14) France
597
(15) Italy
587
(16) Iran
578
(17) Canada
537
(18) Poland
517
(19) Thailand
499
(20) Egypt
490
The twenty largest countries by industrial output (in PPP terms) at peak level as of 2020, according to the IMF and CIA World Factbook.[citation needed]
^"What is secondary sector? Definition and meaning - BusinessDictionary.com". Archived from the original on 2020-08-05. Retrieved 2020-07-14.
^"Secondary Industry: Meaning, Types, Characteristics, and Examples".
and 25 Related for: Secondary sector of the economy information
In macroeconomics, thesecondarysectoroftheeconomy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses...
The quaternary sectoroftheeconomy is based upon the economic activity that is associated with either the intellectual or knowledge-based economy. This...
Miners, farmers and fishermen are all workers in the primary sector. Secondary: involves the transformation of raw or intermediate materials into goods, as...
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...
crores at the end of year 1986 Dues of Small Scale sector also increased from Rs.1071 crores to Rs.1306 crores at the end ofthe year 1986. Ofthe 147, 740...
Look up 2o in Wiktionary, the free dictionary. 2O or 2-O may refer to: 2o Sector, see Secondarysectoroftheeconomy 2'-O-methylation 2O, IATA code for...
University Elementary and secondary education Komaki has 16 public elementary schools and nine public junior high schools operated by the city government, and...
or formulation. It is the essence ofthesecondarysectoroftheeconomy.[unreliable source?] The term may refer to a range of human activity, from handicraft...
equipment for the production and distribution of gas, electricity and water. A range of supporting equipment for all sectorsoftheeconomy, such as equipment...
phenomenon of deindustrialisation, as in the former USSR countries' transition to market economies, and the agriculture sector is often the key sector in absorbing...
etc. Cleaners specialize in a specific cleaning sector or even a specific task in a cleaning sector, and one cannot expect a window cleaner to be able...
which the municipal economy, at least historically, is centered around industry, with important factories or other production facilities in the town....
Industrial Revolution, the manufacturing sector became a major part of European and North American economies, both in terms of labor and production, contributing...
inroads in the political discourse of populist policy makers in the developed economiesof Western Europe and North America, notably France and the United...
measure of output ofthe industrial sectoroftheeconomy. The industrial sector includes manufacturing, mining, and utilities. Although these sectors contribute...
encourage the development and growth of all or part oftheeconomy in pursuit of some public goal. Historically, it has often focused on the manufacturing...
to slow down the decline whilst sunrise industries develop. Sunrise industry Primary sectoroftheeconomySecondarysectoroftheeconomy Christian Schiller...
An economy is an area ofthe production, distribution and trade, as well as consumption of goods and services. In general, it is defined as a social domain...
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...
reflecting the context – i.e., thesecondarysectoroftheeconomy was producing much more than the tertiary sector was able to produce at the time in most...