Service Sector (Tertiary Sector)

Service Sector (Tertiary Sector)

What is Service Sector (Tertiary Sector)

Service sector also known as tertiary sector includes all branches of human activity whose essence is to provide services, thus providing a work, knowledge, financial resources, infrastructure, goods or their combination.


Service sector also known as tertiary sectorincludes all branches of human activity whose core is to provide services, thus providing a work, knowledge, financial resources, infrastructure, goods or their combination.



Other sectors of economy:

Raw materials (primary sector)





Manufacturing and Industry (secondary sector)



The service sector represents a significant part of the national economy of modern economies – organizations providing services (service providers) create in developed countries about 60% of GDPand this share is still growing. The position of the service sector in selected EU countries, see Further information and sources.

The service sector includes, in fact, all organizations (other than manufacturing organizations, industrial raw materials and agriculture) that by their subject of their work or entrepreneurship fit in at least one of the services branch:

Trade and procurement





Transport, Shipping and Transportation





Storage





Tourism





Accommodation and Hospitality





Financial Services (Financial Sector)





Media, information and promotion





Information and communication services





Education





Health and social care





Real estate and infrastructure





Entertainment, Culture and Sport





Advice, Legal and Expert Services





Crafts and repairs





Public administration



A special subset of service sector is public sector, which includes all services financed with public funds (so-called public services).

For more detailed breakdown of service sector into individual branches and into individual economic activities, there are used different classifications of human activities.

Service sector according to NACE





Related terms and methods:





Market Sectors



 Service Sector (Tertiary Sector)  


Location: Chicago, United States

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