Secondary sector of the economy

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Product’s lifecycle

This sector generally may pose environmental problems or cause pollution.

List of countries by industrial output[edit]

The secondary sector of the economy includes those economic sectors that create a finished, usable product: production and construction. This was the largest economic sector in the United States from the 1820s-1940's.

This sector generally takes the output of the primary sector and manufactures finished goods or where they are suitable for use by other businesses, for export, or sale to domestic consumers. This sector is often divided into light industry and heavy industry. Many of these industries consume large quantities of energy and require factories and machinery to convert the raw materials into goods and products. They also produce waste materials and waste heat that may pose environmental problems or cause pollution.

Some economists contrast wealth-producing sectors in an economy such as manufacturing with the service sector which tends to be wealth-consuming.[1] Examples of service may include retail, insurance, and government. These economists contend that an economy begins to decline as its wealth-producing sector shrinks.[2] Manufacturing is an important activity to promote economic growth and development. Nations that export manufactured products tend to generate higher marginal GDP growth which supports higher incomes and marginal tax revenue needed to fund the quality of life initiatives such as health care and infrastructure in the economy. The field is an important source for engineering job opportunities. Among developed countries, it is an important source of well paying jobs for the middle class to facilitate greater social mobility for successive generations on the economy

Largest countries by industrial output according to IMF and CIA World Factbook, 2014
Economy
Countries by industrial output in 2014 (billions in USD)
(—)  European Union
4,636
(01)  China
4,546
(02)  United States
3,396
(03)  Japan
1,221
(04)  Germany
1,150
(05)  Russia
771
(06)  Brazil
592
(07)  United Kingdom
584
(08)  South Korea
568
(09)  France
543
(10)  India
528
(11)  Italy
520
(12)  Canada
509
(13)  Saudi Arabia
486
(14)  Mexico
474
(15)  Australia
406
(16)  Indonesia
399
(17)  Spain
364
(18)  Nigeria
256
(19)  United Arab Emirates
254
(20)  Netherlands
224

The twenty largest countries by industrial output in 2014, according to the IMF and CIA World Factbook.

References[edit]