Primary sector of the economy

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The primary sector of the economy includes any industry involved in the extraction and production of raw materials, such as farming, logging, hunting, fishing, 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 hand-picking and -planting 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]

See also[edit]

References[edit]

  1. ^ Chand, S. N. (2006). Dictionary of economics. New Delhi: Atlantic Publishers & Distributors. p. 268. ISBN 81-269-0535-2. OCLC 297507928.
  2. ^ "primary producer". CollinsDictionary.com. HarperCollins. Retrieved 2019-12-10.
  3. ^ 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.
  4. ^ "Agriculture, forestry, and fishing, value added (% of GDP) | Sub-Saharan Africa". World Bank Open Data. 2018. Retrieved 2019-07-14.
  5. ^ "Agriculture, forestry, and fishing, value added (% of GDP) | North America". World Bank Open Data. 2018. Retrieved 2019-07-14.
  6. ^ "Employment in agriculture (% of total employment) (modeled ILO estimate) - Data". data.worldbank.org.
  7. ^ H Dwight H. Perkins: Proceedings of the Academy of Political Science, Vol. 31, No. 1, China's Developmental Experience (March 1973)

Further reading[edit]

  • Dwight H. Perkins: Proceedings of the Academy of Political Science, Vol. 31, No. 1, China's Developmental Experience (Mar., 1973)
  • Cameron: General Economic and Social History
  • Historia Económica y Social General, by Maria Inés Barbero, Rubén L. Berenblum, Fernando R. García Molina, Jorge Saborido

External links[edit]