What Is an Industrial Sector?
The term “industrial sector” is an economic designation from the three-sector hypothesis for the part of the economy devoted to producing goods, as opposed to sectors devoted to providing services and raw material products. The industrial sector is also referred to as the secondary sector or the manufacturing sector.
The industrial sector takes the raw materials from the primary sector and converts them into end-user products. Examples of industrial sector businesses include automobile manufacturers, consumer electronics companies, the textile industry, the energy sector, the pharmaceutical industry and aerospace manufacturing. Economists consider a strong industrial sector to be a sign of well-functioning economy with a high GDP and high quality of life.
