ENG-2008 — Page 83

The Economy | 43

finance, insurance, real estate and business services; community, social and personal services and ownership of premises) in GDP rose visibly, from 71 per cent in 1987 to 86 per cent in 1997 and 92 per cent in 2007 (Chart 2). The development on the employment front was similar. Over the past two decades, the tertiary sector employed significantly more workers while the share of employment for the secondary production continued to shrink (Chart 3).

Chart 2

Gross Domestic Product by Broad Economic Sector

Chart 3

1987

2007

Secondary production 28.3 %

Secondary production

7.7 %

Primary production

0.4 %

Primary production

0.1 %

Tertiary production 71.3 %

Tertiary production 92.3 %

Over the past two decades, the economy has become increasingly service- oriented, as the share of GDP contributed by the tertiary sector has followed a steady uptrend.

Employment by Broad Economic Sector

1988

2008

Secondary production 40.9 %

Secondary production

12.6 %

Primary production

1.6 %

Primary production

0.3%

Tertiary production 57.4 %

Tertiary production 87.1 %

Over the past two decades, the share of the services sector in total employment greatly increased, whereas the share of the manufacturing sector kept on shrinking.

Note: The compilation methodology of composite employment estimates was reviewed in June 2005. Employment figures from 1996 onwards have been revised accordingly. They are thus not strictly comparable with those of earlier years.