A primary industry is a part of the economy which extracts, processes and utilises natural resources. These industries play a critical role in the livelihood and sustainability of humankind.
Primary industries include agriculture, fishing, mining and forestry. They are also called the agricultural and allied sector. They use traditional and modern techniques to extract, process and utilise natural resources.
Agriculture involves growing crops and animals for food. The main products are fruits, vegetables, meat, eggs and milk. Fisheries involve raising, harvesting and selling fish.
Primary industries are often considered to be the backbone of any country’s economy. They are also susceptible to economic recessions and political instability. While many countries have a reliance on the sector, others rely less on it.
Many developed nations have a more technical approach to farming. This has led to a smaller workforce. However, it has also allowed producers to focus on efficiency and profit.
Primary industries are also subject to various threats, such as overpopulation, war and famine. These issues can lead to an economic crash. To counter this, governments try to keep the cost of running the sector reasonable.
Although there are some industries that are largely dependent on the economy, primary industries tend to dominate economies in emerging countries. For example, Ethiopia has 88% of its employment in the primary sector.
There are also several sectors that are not directly related to the primary industry. The tertiary industry is a service-based sector. It provides intangible services to other sectors.