Asia Industry, Asian Industry

Asian industry in modern times differs significantly from its tradition of cultivation and pastoral activity. In the post-war era, manufacturing and high-tech industries have transformed Asia industry and employment forever.

Asia Industry: Types

Agriculture-based industries (lumbering, agrarian, fishing, etc.): The whole stretch beginning from Pakistan and extending to India, Bangladesh, Cambodia, Vietnam and southern China is densely populated. The cultivation of rice and some cash crops is the primary economic activity in this belt.

Mineral-based industries (metallurgy, petroleum, etc.): The vast land expanses in Asia are rich in natural resources, from the abundantly available metals across Russia to the oil fields spread over the western part of the continent.

The contribution of the primary sector to the country’s GDP (as of 2007) varies from 0% in Singapore to 43% in Burma.

• Manufacturing-based industries (automotive, electronics, textile, etc.): East Asia is one of the world’s leading manufacturing regions. The Asian industry in this region is vast in both expanse and variety. Across China, Japan, South Korea and Taiwan, goods as cheap as toys to as high value as cars are manufactured. Industry giants such as Samsung, Toshiba, Toyota, and Honda are based here. Also, many corporations from the US and Europe have a major part of their operations in Asia due to the abundant availability of labor at lower costs. The textile industry provides employment to a considerable proportion of the population.

The dominance of industry in Asia differs from country to country. While Qatar earns 78% of its income from this sector, manufacturing adds to only 8% to Hong Kong’s GDP.

• Services-based industries (finance, IT, BPO, etc.): Six of the world’s most important financial centers are located in Asia. India has emerged as one of the world’s leading exporters of services related to information technology. Software giants such as TCS and Wipro are based here. With many business processes being outsourced to Asia, call centers have become one of the largest employers in countries such as India, Malaysia and the Philippines.

The tertiary sector contributes more than 90% of Hong Kong’s GDP. On the other hand, Qatar earns only 22% of its income from the services-based industries. The movement of the Asian economy from one with an agrarian base to that with a multi-sector foundation has led to its unprecedented growth in recent years.