Secondary Sector Definition
The secondary sector is an economic term used to describe the portion of industry that is concerned with the transformation of raw or intermediate materials into goods, including both manufacturing and construction. This sector typically includes mining, manufacturing, and energy production, as well as the more labor-intensive activities such as textile production and food processing.
The secondary sector is vital to the economy as it provides the means by which primary products can be processed and turned into finished goods that are then sold on to consumers. This sector is also a key source of employment, particularly in developing countries where the majority of the population is engaged in agriculture.
Despite its importance, the secondary sector has been declining in recent years as a result of automation and globalization. This has led to a decline in jobs and wages in many developed countries, and has put pressure on governments to provide support for those affected.
