Service Industry


Also found in: Dictionary, Thesaurus, Wikipedia.
Related to Service Industry: Service sector

Service Industry

 

the sector of the national economy whose output takes the form of services.

According to the system of industrial classification used in planning and statistics in the USSR, the service industry includes trade, the food service industry, and the branches of the nonproduction sphere, with the exception of the branches of science, science service, and administration. Certain services are performed in response to orders by individual citizens.

In the USSR, the service industry accounts for approximately one-tenth of the total output of goods and services (in 1973, 89.9 billion out of 850.2 billion rubles). The share of services in the total consumption fund of goods and services by the population in the USSR rose from 29.6 percent in 1960 to 33.7 percent in 1974. While the service industry employed 17.1 percent of the work force in 1960, the figure had grown to 23.7 percent in 1974.

The significant growth of the service industry can be explained by structural changes in societal needs. As the material and cultural level of a society rises, the need for services related to education, culture, and public health increases at a greater rate than the aggregate of other needs owing to the objective economic law of increasing requirements. The proportion of personal income expended on services also increases. As a country’s level of economic development rises, the service industry absorbs a growing share of society’s resources, and the output of the industry plays an increasingly important role in personal consumption. The service industry is growing in all the socialist countries, and the same trend can be seen in the developed capitalist countries. In the United States, for example, services accounted for 30.4 percent of the gross national product in 1950, 37.2 percent in 1960, and 41.9 percent in 1973

REFERENCES

Rutgaizer, V. M. Sfera obsluzhivaniia—kakoi ei byt’?. Moscow, 1971.
SShA: sfera uslug v ekonomike. Moscow, 1971.
Teoreticheskie problemy uslug i neproizvodstvennoi sfery pri solsializme. Moscow, 1972.
Pravdin, D. I. Neproizvodstvennaia sfera: effektivnost’ i stimulirovanie. Moscow, 1973.

V. M. RUTGAIZER

References in periodicals archive ?
In addition to Chubb's Business Owner's Policy (Chubb BOP), coverage for small businesses within the food service industry is available on the Chubb Marketplace for the following lines of business:
CIFTUS actively implements innovation-driven development strategies, exhibiting new models, businesses, services, and technologies such as artificial intelligence and 5G as applied in service field; promotes innovation achievements in manufacturing, healthcare, and personal services, the digitization and intelligence of service industry and trade in services; facilitates integrated development between service industries including the modern service industry and advanced manufacturing, culture and tourism, and between trade in services and service consumers.
As a result, most of the service jobs in the country are low-paying, though the service industry is about twice as effective in job creation compared with the manufacturing industry.
Biocon 1's AETHER Water Systems technology, which includes patented water filtration media and water filtration products, provides solutions for customers to address all contaminate issues and to provide clean-tasting, sediment-free, scale-free, and bacteria-free water for the food service industry.
Whether it is questions about the industry or customer related situations, the Chat Room platform allows all Members to join in the conversation or contribute to what's happening in the service industry.
To standardize Quality Assurance and Accreditation 'Q' framework in the Islamic financial service industry.
Based on ADB's report, the service industry in Asian developing countries staged a moment of quiet rise.
The food service industry training program focuses on several key areas of food safety, including personal hygiene, proper equipment and facility operation, cleaning and disinfecting processes and pest control techniques.
"The service industry has become the major driving force of the growth in foreign direct investment, which also chimes with the government's goal of adjusting the economic structure," Yao told a regular monthly briefing, referring to Beijing's goal of boosting domestic consumption and relying less heavily on exports.
In partnership with the Greater Miami Convention and Visitors Bureau and other business organizations, the center provides important service industry training to all employee levels in organizations, from entry to senior management.
Yet the financial service industry experts who made up the Senior Supervisors Group did come up with explanations.
The service industry is one of Michigan's fastest growing industries, and it is thriving despite the state's economic downturn.

Full browser ?