basic industry

Definition

Industrial sector which exports all or nearly all of its production. Basic industries, as a result of their foreign exchange earnings, create new incomes and additional spending power in their country's economy. Therefore any drastic or inordinate change in a basic industry's output or earnings will produce correspondingly widespread and deep effect on the entire local economy. In contrast, changes in the non-basic or support industries will only require a readjustment of incomes and spendings patterns, and the country's overall economic condition will remain largely unaffected.

单词	basic industry
释义	basic industry Definition Industrial sector which exports all or nearly all of its production. Basic industries, as a result of their foreign exchange earnings, create new incomes and additional spending power in their country's economy. Therefore any drastic or inordinate change in a basic industry's output or earnings will produce correspondingly widespread and deep effect on the entire local economy. In contrast, changes in the non-basic or support industries will only require a readjustment of incomes and spendings patterns, and the country's overall economic condition will remain largely unaffected.
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