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In macroeconomics, the secondary sector of the economy is an economic sector in the three-sector theory that describes the role of manufacturing. It encompasses industries that produce a finished, usable product or are involved in construction .
Three sectors according to Fourastié Clark's sector model This figure illustrates the percentages of a country's economy made up by different sector. The figure illustrates that countries with higher levels of socio-economic development tend to have less of their economy made up of primary and secondary sectors and more emphasis in tertiary sectors.
Location of Pakistan. Pakistan is a federal parliamentary republic in South Asia on crossroads of Central Asia and Western Asia.Economists estimate that Pakistan has been part of the wealthiest region of the world throughout the first millennium CE having the largest economy by GDP.
Percentages of a country's economy made up by different sectors. Countries with higher levels of socio-economic development tend to have proportionally less of their economies operating in the primary and secondary sectors and more emphasis on the tertiary sector. The less developed countries exhibit the inverse pattern.
Pakistan's industrial sector (in FY21) accounts for 28.11% of the GDP. Of this, manufacturing makes up 12.52%, mining constitutes 2.18%, construction makes up 2.05%, and electricity and gas 1.36%. The majority of industry is made up of textile units, with textiles contributing $15.4b to exports, making up 56% of total exports.
Primary sector of the economy (the raw materials industry) Secondary sector of the economy (manufacturing and construction) Tertiary sector of the economy (the "service industry") Quaternary sector of the economy (information services) Quinary sector of the economy (humanitarian services)
Within this sector, certain enterprises have expanded to an international scale and exhibit progressive business philosophies. Sunday textile market on the sidewalks of Karachi , Pakistan. As of June 2021, the Pakistani textile industry comprises 517 textile units, including 40 composite units and 477 spinning units.
The corporate sector remained to expand in Prime minister Benazir Bhutto's government who promoted the nationalization and privatization at once. In 2004, in a programme initiated by Prime minister Shaukat Aziz, the corporate sector further enhanced and matured; it had built a strong and sizeable sector in the financial hubs of the country.