Industry is the production of a good or service within an economy.[1]
Manufacturing industry became a key sector of production and labour in European and North
American countries during the Industrial Revolution, upsetting previous mercantile
and feudal
economies. This occurred through many successive rapid advances in technology,
such as the production of steel and coal.
Following the Industrial Revolution, perhaps a third of the
world's economic output is derived from manufacturing industries. Many developed
countries and many developing/semi-developed countries (People's Republic
of China, India etc.) depend significantly on manufacturing industry. Industries,
the countries they reside in, and the economies of those countries are
interlinked in a complex web of interdependence.
Classification of industry
Industries can be classified in a variety of ways. At the
top level, industry is often classified into sectors: Primary or extractive,
secondary or manufacturing, and tertiary or services. Some authors
add quaternary (knowledge) or even quinary (culture and research) sectors. Over
time, the fraction of a society's industry within each sector changes. They
are-
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Sector
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Definition
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Primary
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This involves the extraction of resources directly from
the Earth; this includes farming, mining and logging. They do not process the
products at all. They send it off to factories to make a profit.
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Secondary
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This group is involved in the processing products from
primary industries. This includes all factories—those that refine metals,
produce furniture, or pack farm products such as meat.
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Tertiary
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This group is involved in the delivery and sale of goods.
They include truck drivers and retail workers, for example.
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Quaternary
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This group is involved in the research of science and
technology and other high level tasks. They include scientists, doctors, and
lawyers.
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Quinary Sector
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Some consider there to be a branch of the quaternary
sector called the quinary sector, which includes the highest levels of
decision making in a society or economy. This sector would include the top
executives or officials in such fields as government, science, universities,
nonprofit, healthcare, culture, and the media.
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There are many other different kinds of industries, and
often organized into different classes or sectors by a variety of industrial classifications. Market-based classification systems such as the Global Industry Classification
Standard and the Industry Classification Benchmark
are used in finance
and market research. These classification systems
commonly divide industries according to similar functions and markets and
identify businesses producing related products.
Industries can also be identified by product, such as: chemical
industry, petroleum industry, automotive industry, electronic industry, meatpacking industry, hospitality industry, food
industry, fish industry, software
industry, paper industry, entertainment industry, semiconductor industry, cultural
industry, and poverty industry.
Industrial development
The industrial revolution led to the development
of factories for large-scale production, with consequent changes in society.
Originally the factories were steam-powered, but later transitioned to electricity
once an electrical grid was developed. The mechanized assembly
line was introduced to assemble parts in a repeatable fashion, with
individual workers performing specific steps during the process. This led to
significant increases in efficiency, lowering the cost of the end process.
Later automation
was increasingly used to replace human operators. This process has accelerated
with the development of the computer and the robot.
Deindustrialisation
Historically certain manufacturing industries have gone into
a decline due to various economic factors, including the development of
replacement technology or the loss of competitive advantage. An example of the
former is the decline in carriage manufacturing when the automobile
was mass-produced.
A recent trend has been the migration of prosperous,
industrialized nations toward a post-industrial society. This is manifested
by an increase in the service sector at the expense of manufacturing, and
the development of an information-based economy, the so-called informational revolution. In a
post-industrial society, manufacturing is relocated to economically more
favourable locations through a process of off-shoring.
The difficulty for people looking to measure manufacturing
industries outputs and economic effect is finding a measurement which is stable
historically. Traditionally, success has been measured in the number of jobs
created. The lowering of employee numbers in the manufacturing sector has been
assumed to be caused by a decline in the competitiveness of the sector although
much has been caused by the introduction of the lean manufacturing process. Eventually, this
will lead to competing product lines being managed by one or two people, as is
already the case in the cigarette manufacturing industry.
Related to this change is the upgrading of the quality of
the product being manufactured. While it is easy to produce a low tech, low
skill product, the ability to manufacture high quality products is limited to
companies with a highly skilled staff.
Society
An industrial society can be defined in many ways.
Today, industry is an important part of most societies and nations. A
government must have some kind of industrial
policy, regulating industrial placement, industrial
pollution, financing and industrial
labor.
Industrial labour
In an industrial society, industry employs a major part of
the population. This occurs typically in the manufacturing sector. A labour
union is an organization of workers who have banded together to achieve common
goals in key areas such as wages, hours, and working conditions. The trade
union, through its leadership, bargains with the employer on behalf of union
members (rank and file members) and negotiates labour
contracts with employers. This movement
first rose among industrial workers.
War
The assembly plant of the Bell Aircraft Corporation (Wheatfield, New York, United States, 1944)
producing Aircobra P 39 aircraft
The industrial revolution changed warfare, with mass-produced
weaponry and supplies, machine-powered transportation, mobilization,
the total
war concept and weapons of mass destruction. Early
instances of industrial warfare were the Crimean War
and the American Civil War, but its full potential
showed during the world wars. See also military-industrial complex, arms
industry, military industry and modern
warfare.
ISIC
ISIC[3]
stands for International Standard
Industrial Classification of all economic
activities, the most complete and systematic industrial classification made
by the United Nations Statistics Division.
ISIC is a standard classification of economic activities
arranged so that entities can be classified according to the activity they
carry out. The categories of ISIC at the most detailed level (classes) are
delineated according to what is, in most countries, the customary combination
of activities described in statistical units, considering the relative
importance of the activities included in these classes.
While ISIC Rev.4 continues to use criteria such as input,
output and use of the products produced, more emphasis has been given to the
character of the production process in defining and delineating ISIC classes.
List of countries by industrial output
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Largest countries by industrial output according to IMF and CIA World Factbook, 2014
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Economy
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Countries by industrial output in 2014 (billions in USD)
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4,650
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4,402
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3,418
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1,241
|
|
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1,167
|
|
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785
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|
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585
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|
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580
|
|
|
540
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|
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530
|
|
|
515
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|
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513
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502
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483
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|
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471
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|
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400
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393
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368
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252
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217
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213
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Rest of the World
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5,995
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The twenty largest countries by industrial output in 2014,
according to the IMF
and CIA World Factbook.
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