Which is a basic or key industry.
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basic industry
Industrial sector which exports all or nearly all of its production. Basic industries, as aresult of their foreign exchange earnings,create new incomes and additionalspending power in their country's economy. Therefore any drastic or inordinate changein a basic industry's output or earnings willproduce correspondingly widespread and deep effect on the entire local economy. In contrast, changes in the non-basic or support industries will only require a readjustment of incomes and spendings patterns, and the country's overalleconomic condition will remain largely unaffected.
Industrial sector which exports all or nearly all of its production. Basic industries, as aresult of their foreign exchange earnings,create new incomes and additionalspending power in their country's economy. Therefore any drastic or inordinate changein a basic industry's output or earnings willproduce correspondingly widespread and deep effect on the entire local economy. In contrast, changes in the non-basic or support industries will only require a readjustment of incomes and spendings patterns, and the country's overalleconomic condition will remain largely unaffected.
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