Blog
AS Macro Key Term: Economic Structure
6th April 2011
Economic structure is a term that describes the changing balance of output, trade, incomes and employment drawn from different economic sectors – ranging from primary (farming, fishing, mining etc) to secondary (manufacturing and construction industries) to tertiary and quaternary sectors (tourism, banking, software industries). Changes in economic structure are a natural feature of economic life but they bring challenges in terms of reallocating factors of production. For example, a shift in production and jobs in one sector can lead to problems of structural unemployment. Our charts below track production in manufacturing, services and in agriculture for the UK economy.
UK Manufacturing Output
Data from Timetric.
To view this graph, please install Adobe Flash Player.
United Kingdom from Timetric
Index of Output in Service Industries
Data from Timetric.
To view this graph, please install Adobe Flash Player.
United Kingdom from Timetric
Service and industrial output as a share of UK GDP
Data from Timetric.
To view this graph, please install Adobe Flash Player.
United Kingdom from Timetric
Agricultural production as a share of UK GDP
Data from Timetric.
To view this graph, please install Adobe Flash Player.
Agriculture, value added (% of GDP), United Kingdom from Timetric
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.