Industrial Sector
The industrial sector refers to the part of the economy that focuses on the production of goods and services. This sector includes various industries such as manufacturing, construction, and mining. It plays a crucial role in economic development by creating jobs and contributing to the overall output of a country.
Within the industrial sector, companies often utilize machinery and technology to enhance efficiency and productivity. Key components include raw materials, labor, and capital investment. The performance of the industrial sector is often measured by indicators like industrial production and manufacturing output, which reflect the health of the economy.