An industry (from Latin industrius, "diligent, industrious") is the manufacturing of a good or service within a category. Although industry is a broad term for any kind of economic production, in economics and urban planning industry is a synonym for the secondary sector, which is a type of economic activity involved in the manufacturing of raw materials into goods and products.
There are four key industrial economic sectors: the primary sector, largely raw material extraction industries such as mining and farming; the secondary sector, involving refining and manufacturing; the tertiary sector, which deals with services (such as law and medicine) and distribution of manufactured goods; and the quaternary sector, a relatively new type of knowledge industry focusing on technological research, design and development such as computer programming, and biochemistry. A fifth quinary sector has been proposed encompassing nonprofit activities. The economy is also broadly separated into public sector and private sector, with industry generally categorized as private.
Industry in the sense of manufacturing became a key sector of production in European and North American countries during the Industrial Revolution, which upset previous mercantile and feudal economies through many successive rapid advances in technology, such as the steel and coal production. It is aided by technological advances, and has continued to develop into new types and sectors to this day. Industrial countries then assumed a capitalist economic policy. Railroads and steam-powered ships began speedily establishing links with previously unreachable world markets, enabling private companies to develop to then-unheard of size and wealth. Following the Industrial Revolution, perhaps a third of the world's economic output is derived from manufacturing industries—more than agriculture's share.
Many developed countries (for example the UK, the U.S., and Canada) and many developing/semi-developed countries (People's Republic of China, India etc.) depend significantly on industry. Industries, the countries they reside in, and the economies of those countries are interlinked in a complex web of interdependence.
A recent trend has been the migration of prosperous, industrialized nations toward a post-industrial society. This is manifested by an increase in the service sector at the expense of manufacturing, and the development of an information-based economy, the so-called informational revolution. In a post-industrial society, manufacturing is relocated to more economically-favorable locations through a process of offshoring.
ISIC(rev.4) stands for International Standard Industrial Classification of ALL economic activities, the most complete and systematic industrial classification made by United Nations Statistics Division. ISIC Rev.4 is a standard classification of economic activities arranged so that entities can be classified according to the activity they carry out. The categories of ISIC at the most detailed level (classes) are delineated according to what is, in most countries, the customary combination of activities described in statistical units and considers the relative importance of the activities included in these classes. While ISIC Rev.4 continues to use criteria such as input, output and use of the products produced, more emphasis has been given to the character of the production process in defining and delineating ISIC classes.
Industry Center by Yahoo!Finance is also very useful (shows Trends of all industrial sectors).
Medium-term projections and alternative scenarios for industrial countries. (World Economic and Financial Surveys)
May 01, 1990; Medium-Term Projections and Alternative Scenarios for Industrial Countries This chapter begins with a presentation of the staff's...
Fiscal challenges facing industrial countries. (includes related articles on fiscal responsibility law in New Zealand, generational accounting, and effective budgets and pension plans in industrial countries)
May 01, 1996; The ballooning of public debt in industrial countries over the past two decades of relative world peace and prosperity is...