What is the difference between Sector and Industry?

One of the ways by which a sector and an industry can be differentiated is by checking their meanings. A sector is a particular field of economic activity, usually formed by a number of industries that are similar in terms of goods being produced or services being offered. Businesses that make up a particular sector usually share the same characteristics.

For example, the economies of nations are driven by the activities of both the private and public sectors. Under these two, there exist different sectors, such as primary sectors, secondary sectors, tertiary sectors, etc. On the other hand, industry refers to the sector of the economy that is made up of large-scale businesses or enterprises. For instance, when you have a large number of tourist centers in a particular region, which forms the tourism industry. The scope of a sector seems to be very broad as it consists of so many industries, whereas industry is limited in scope.

The term sector describes a group of industries that share many common aspects that are used to define them. Different areas possess specific features, which means that the industries in the sector operate within a particular array of products or services. The economy is divided into sectors, which include the primary sector, secondary sector, tertiary sector, and quaternary sector.

Industry, on the other hand, the industry refers to a specific form for businesses, which have related economic activities, either production of similar goods and implementation of comparable technical or technology applications. It is called an industry because of the way it is neatly structured. Examples of sectors include the service industry, construction industry, genetic industry, and extraction industry.