ENG-2004 — Page 72

46 The Economy

Chart 2

Gross Domestic Product by broad economic sector

2003

1983

Secondary production

31.8%

Primary production 0.8%

Secondary production

11.4%

Primary production 0.1%

Tertiary production 67.4%

Tertiary production 88.5%

Over the past two decades, the economic structure has shifted towards increasing service orientation, concurrent with a diminishing share of the secondary sector in GDP.

Contributions of the various economic sectors

The profound structural change in the economy was also borne out by a concurrent shift in the sectoral composition of employment. Over the past two decades, the share of the services sector in total employment went up distinctly, from 52 per cent in 1984 to 76 per cent in 1994 and further to 86 per cent in 2004. (Chart 3). On the other hand, the corresponding share for the manufacturing sector shrank visibly, from 38 per cent in 1984 to 15 per cent in 1994 and further to only 5 per cent in 2004.

Chart 3

Employment by broad economic sector

1984

Secondary production

45.8%

2004

Secondary production

14.0%

Primary production

1.8%

Primary production 0.4%

Tertiary production 52.4%

Tertiary production 85.6%

Over the past two decades, the share of the services sector in total employment has greatly increased.