Types Of Industry

The term industry refers to a field or an organization involved in the production of goods or extraction of natural resources. The economy of a country depends on the industries it has. The more industries a country has the more economically rich and stable it is.

The type of an industry a country mostly depends on relies on the presence of the available resources in the country. However only the presence of resources is not enough for the industry to work, it is important that the amount used for the production of good is exceeded by the amount taken for its consumption. Hard work and labor are another factor for the industry to work.

The presence of many and successful industries in a country make it economically stable not only because it increases the chance of trade but it also enhances the employment structure of the country. The more industries in a country the more scope and chances for the people to earn. One of the many reasons why some countries have left behind others and are successful and rich is the presence of many industries. 

When it comes to diving industries into different types there are two bases for its classifications. Firstly on the basis of three economic sectors there are three types of industries:

• Primary industries
• Secondary industries
• Tertiary industries

Secondly, industries can be named according to the products produced in it, for example: Fish industry, Petroleum industry, Electronic industry, Mechanical industry, Dairy products industry, and Software industry, Meat packing industry, agricultural industry and many more.

Let’s, in detail discuss the three main sectors of industries:

The primary industry or the primary sector of industry is involved in extraction of raw material form the earth.

The raw material extracted via this industry is the basis for the production of other goods; hence other industries depend on this industry.

However, few countries today entirely depend on the primary industry for its economy.

Until the mid 18^th century, before the industrial revolution, the world depended on the primary sector; it played the most important role in the employment structure as the majority of the people worked for it.

But today less than 1/3^rd of the population is working in it and a nation’s economy does not completely depend on it.

However in its absence the other industries on which a country depend will fall down.

The primary industry includes:

• Agricultural industry which is responsible for production of raw vegetables, fruits, grains and animals for meat. Agricultural industry is a vast industry which includes: poultry industry and farming.
• Mining industry which is responsible for the mining of coal, minerals, stones and metal form the earth’s surface
• Fishing industry which is responsible for gathering fish form seas, lakes and rivers
• Forestry industry which is involved in the production of trees for raw wood and plants.

The secondary industry is responsible for converting the raw material obtained by the primary industry into finished goods.

The secondary industry grew rapidly after the industrial revolution, new tools and methods were invented and work increased.

Now it was the secondary industry which had more chances of employment and slowly it took place of the primary industry.

By the 20^th century it was the secondary industry which played a major role in the world economy.

Majority of countries depended on their secondary industry.

The secondary industry includes:

• Food industry which converts raw vegetables and meat into food. A bakery where wheat is converted into bread is involved in the secondary industry.
• Textile industry
• Automobile industry
• Building industry
• Sport good industry

The tertiary industry is involved in public service.

It was the least popular industry until the 18^th century, but with the advent of industrial revolution the tertiary sector too revolutionized along with the secondary sector and today it is the tertiary industry which is the most important industry of any country.

It plays the major role in the employment structure and the economy of any country mostly depends on the tertiary industry.

The tertiary industry includes:

• Banking
• Health services
• Education
• Civil defense forces
• Delivery services
• Insurance