The system reduces leaks to just 10% non-revenue water loss—extending the life of infrastructure, increasing revenues and preventing water from going to waste. Track and optimise resource use and strengthen connections between supply chain actors through digital, online platforms and technologies that provide insights. The Circular Cities declaration is a commitment for cities and regions to use the levers at their disposal to transition from a linear to a circular economy. The declaration has been signed by over 30 cities throughout Europe, and brings knowledge experts towards a circular, and more resilient, future. Vitens is the largest drinking water company in the Netherlands and is pioneering innovative approaches to ensure a sustainable and continued supply of drinking water to the country.

Take manufacturing, for example—a sector which could contribute R570 billion to GDP by 2030, according to the firm’s estimates. But as of the second quarter, South Africa’s manufacturing sector, which contributes 17% of South Africa’s GDP, was in recession. The sector’s travails are mostly tied to the country’s electricity crisis and labor tensions, which have crippled other energy-intensive sectors in the country. The industrial revolution lessened the role of subsistence farming, converting land-use to more extensive and monocultural forms of agriculture over the last three centuries. Economic growth took place mostly in the mining, construction and manufacturing industries. Establishments in this sector perform essential activities that are often undertaken, in-house, by establishments in many sectors of the economy.

Economic And Individual Power Of Employees

Ensure renewable, reusable, non-toxic resources are utilised as materials and energy in an efficient way. Visit oppenheimerfunds.com or call your advisor for a prospectus with this and other fund information. The “general loosening up” of the country’s economy is helping drive growth, Khanna said. Most of the world’s largest automakers are ramping up production in India as more prosperous citizens trade in two wheels for four. The “Make in India” initiative, a multi-pillar development push launched by Indian Prime Minister Narendra Modi in September 2014, has helped spur a building boom.

• This capacity means that unlike traditional distributors, they derive revenue not from sale of the distributed product to the final consumer, but from those who pay for the privilege of adding information to the original product.
• Market Cap is the sum of the market value of each company assigned to the applicable GICS sector or industry.
• By contrast, Denmark shows a more homogeneous national occupational pension model, thanks to its quasi-mandatory collective agreements in all economic sectors.
• The flow of dollars between the financial sector and the government sector reflects the borrowing of governments.
• The Namibian SAM has 32 commodity sectors, including three dummy sectors for own real estate services, direct foreign purchases by Namibians, and direct domestic purchases by foreigners.
• The energy sector covers companies that do business in the oil and natural gas industry.

Thus, key sectors with widely dispersed effects are those with higher-than-average forward and backward linkages which are also dispersed more widely than average. Rueda-Cantuche et al. provide a useful means of visualizing the different possible outcomes from a key sector analysis . The upper left corner of Table1 contains key sectors with widely dispersed backward and forward linkages throughout the rest of the economy. Moving downward in the table, we find sectors with less widely dispersed backward linkage effects on the rest of the economy and, at the bottom, sectors with no or limited overall backward impacts. Similarly, moving to the right, we first find sectors with less widely dispersed forward linkage effects, and then sectors with no forward linkage effects. Notably, these definitions identify sectors with higher- or lower-than-average linkages and diffusion. The purpose of this paper is to determine the key productive sectors for the Namibian economy.

Ministers agreed that taking action to reduce plastic waste, support improved reuse and value recovery is vital to lowering the amount of plastic released in our environment. Utilise waste streams as a source of secondary resources and recover waste for reuse and recycling.

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Then we multiplied those percentages by the Congressional Budget Office’s estimate of what the United States’ potential output was in the second quarter of this year. That gives us a sense of what output “should” be in each sector if we had a healthy economy and those historical proportions held.

When a landowner has one or more tenants, renters, croppers, or managers, the land operated by each is considered a farm. Investors should generally be well-diversified across all stock market sectors. You can use the Standard & Poor’s 500® Index allocations to each sector, listed in the chart above, as a guideline. The good news is that there is enough capacity to replace a decline in Russian oil exports. However, that supply is impacted by geopolitics, as well as slower-moving microeconomic factors. OPEC has just under 4 million bpd of excess capacity.3 Existing sanctions against Iran are responsible for 1-2 million bpd of locked-up capacity,4 while other OPEC members have been stubbornly slow to boost their exports to make up for the shortfall.

Please complete this reCAPTCHA to demonstrate that it’s you making the requests and not a robot. If you are having trouble seeing or completing this challenge, this page may help. Teachers Pay Teachers is an online marketplace where teachers buy and sell original educational materials. The government then spends money in the economy in many ways, including unemployment benefits and infrastructure spending.

Those income flows are added to the trade surplus/deficit to give the current account of the economy. It is the current account that must be matched by borrowing from or lending to other countries. A positive current account means that net exports plus net income flows from the rest of the world are positive. In this case, our economy is lending to the rest of the world and acquiring more assets.

12 Government Sector Of An Economy Grades 3

On the other hand, when labor income is used as a metric, the subsistence agriculture sector , fishing, and a few highly-paid, labor-intensive manufacturing and service sectors are the only ones identified as key sectors with large linkage effects on the economy. Finally, when employment is used as a metric, the low-wage, labor-intensive agricultural sectors come out as the only key sectors.

Similar to the primary sector, technology is a major factor in the secondary sector’s decline. Economies are often categorized into different sectors such as the primary, secondary, and tertiary sectors. Learn about their functions, see examples of each sector, and discover where the service industry falls within them. The Namibian economy has a high degree of openness as the sum of exports and imports equates to more than 90 % of GDP. Most raw material commodities are exported in unprocessed or semi-processed form, and many consumer goods are imported. Agriculture has a small contribution to GDP (around 5 %), but it employs about 30 % of the total labor force. The largest part of the economic contribution from agriculture is from relatively large, commercial farms, but traditional subsistence farming remains crucial for supporting a large share of the population.

However, components, input from other manufacturing establishments, are classified based on the production function of the component manufacturer. For example, electronic components are classified in Subsector 334, Computer and Electronic Product Manufacturing and stampings are classified in Subsector 332, Fabricated Metal Product Manufacturing. The unweighted analysis, which shows the effect that marginal changes in sectors would have on the overall economy, exhibits a more complicated picture. Not surprisingly, given the dualistic nature of the Namibian economy, the choice of metric is important for those sectors identified as key in the unweighted analysis. When a traditional output metric is used, a range of manufacturing sectors are identified as key, with both backward and forward linkages, and many of the remaining manufacturing and service sectors are identified as having strong linkages in at least one direction.

Primary Industry

The sector includes companies that sell higher-priced items like automobiles and luxury goods, as well as leisure products. You’ll find both brick-and-mortar and e-commerce-based retail companies in this category, along with hotel and restaurant stocks.

• The professions of the people working in this industry are generally referred to as “gold collar” professions since the services included in the sector focus on interpretation of existing or the new ideas, evaluation of new technologies, and the creation of services.
• Over 28 million cars were sold in China in 2018, with retail sales of RMB 3.9 trillion.
• In the United States, the economy continues to see a gradual shift from the primary sector to the secondary and tertiary sectors, due to advancements in technology.
• They are three sectors in the Indian economy, they are; primary economy, secondary economy, and tertiary economy.
• Manufacturing establishments often perform one or more activities that are classified outside the Manufacturing sector of NAICS.

These include establishments, such as office supply stores, computer and software stores, building materials dealers, plumbing supply stores, and electrical supply stores. Catalog showrooms, gasoline stations, automotive dealers, and mobile home dealers are treated as store retailers.

Italy: Low Coverage Rates But High Employer Contributions

Other examples of the primary sector are the ranchers who raise the cows that most of us eat rather often, or the guy who mines the coal that will eventually heat some of our homes. “India’s competitiveness has improved across the board, in particular in 5 sectors of economy goods market efficiency, business sophistication, and innovation,” the report states. It cites improved monetary and fiscal policies as two of the major reasons why India’s economy has stabilized and now boasts the highest growth among G20 countries.

Things like mining, farming, hunting, and forestry are all parts of the primary sector. GICS is an industry classification system developed by Standard & Poor’s in collaboration with Morgan Stanley Capital International . A company is assigned to a single GICS industry according https://business-accounting.net/ to the definition of its principal business activity as determined by Standard & Poor’s and MSCI. Revenues are a significant factor in defining principal business activity; however, earnings analysis and market perception are also important criteria for classification.

• Since April 2018, China’s tariffs have targeted more than 1,000 U.S. agricultural products, with a total value of around US$22.6 billion.
• They can guarantee a basic or means-tested income , maintain the living standard usually via earnings-related state pensions or occupational pensions, and they can serve as a top up in the form of additional personal savings.
• An establishment that primarily performs factory overhauls, rebuilding, or conversions of aircraft, railroad rolling stock, or a ship is classified in Subsector 336, Transportation Equipment Manufacturing according to the type of equipment.
• The combination of the ‘method of difference’ with the ‘method of agreement’ helps to control for other factors causing the outcome.
• A company is assigned to a single GICS industry according to the definition of its principal business activity as determined by Standard & Poor’s and MSCI.

There has been some headway in resolving sanctions on Iran , but there are no assurances that OPEC will increase exports by more than already planned. Schwab Sector Views is our three- to six-month outlook for stock sectors, which represent broad sectors of the economy.

Real Estate Sector

The S&P New China Sectors Index is designed to provide equity exposure to sectors and industries likely to benefit from China’s economic reforms, with a focus especially on Consumer Discretionary, Consumer Staples, Communication Services, Insurance, and Health Care. The S&P New China Sectors Index had its biggest overweights in the Consumer Discretionary, Communication Services, and Consumer Staples sectors, while the most underweight are the Industrials, Materials, and Financials sectors, as compared with the S&P China 500 index. These sector biases resulted in significant fundamental and performance differences between the S&P China 500 and the S&P New Sectors Index. From Dec.31, 2010, to Sept. 30, 2019, the S&P New China Sectors Index achieved an annualized return of 8.5%, outperforming the S&P China 500 by 4.3% per year, indicating the new economy sectors performed better than the broad equities market. The S&P New China Sectors Index had a smaller return drawdown than the S&P China 500 and a higher riskadjusted return over the long term. The outperformance of the S&P New China Sectors Index was dominated by sector allocation effects. Collectively, the allocation bias in the new economy sectors accounted for 38.1% of outperformance of the S&P New China Sectors Index versus the S&P China 500, while the underweight in the old economy sector stocks contributed 32.3% of it.

Secondary Industries

Information technology also includes makers of semiconductors and the’’ equipment used to produce semiconductor chips. The five “Big Bets for the Circular Economy” are the roles of markets and consumers, education, trade, partnerships and innovation. As president of Sitra, one of the most forward-thinking institutions on the circular economy, Jyrki Katainen said the Five Big Bets framework provided a roadmap for inclusive growth in Africa.