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Ebby
Lv 6
Ebby asked in Social ScienceEconomics · 1 decade ago

Which sector of world economy is growing faster and why, and in which geographical area?

3 Answers

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  • 1 decade ago
    Favorite Answer

    It depends on how you define a sector of economic activity. To my mind the faster growing sectors are: services sector, entertainment sector, construction sector, Governent expenditure sector, IT and bio-technology sector, terrorism sector, communications sector. High growth geographical areas are large population liberalising economies like China, India and other Asian and erstwhile Soviet/ communism dominated now freer countries like Poland, Vietnam.

    Technological progress, economic liberalisation, high population and globalisation are the main drivers of higher economic growth in most cases/ areas.

  • 1 decade ago

    service sector of world economy is growing faster because in the recent past years world economy is growing faster and as the economy is developing the ratio of services increases in GDP.& in this sanerio the trade volume of services is also increased.

    the asian region has arised as a big service provider to the world . and this region has shown the highest growth rate in the world.

  • 1 decade ago

    The worldwide construction sector is experiencing a boom, mainly led by China and the Middle East

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