The division of the economy into three sectors – primary production, industry (mainly manufacturing), and services – has become obsolete, i.e., the dividing lines between them have become blurred and partly disappeared completely. Manufacturing and services complement each other. Many successful multinational companies are deeply engaged in combining goods and services in their operations and market offerings. Digitalization is changing the traditional understanding of services: many services can be stored and transferred as goods. Consequently digital services are growing faster than any other segment of world trade.
|Number of pages
|Published - 7 May 2013
|MoE publication type
|D4 Published development or research report or study
|ETLA Muistio - Brief