Primary industry is a term used to describe the business activities that involve the extraction, cultivation, and production of raw materials. Synonyms for primary industry include natural resource extraction, raw material industry, extractive industry, primary sector, and agrarian sector. The industries that fall under primary industry include agriculture, forestry, fishing, mining, and oil and gas extraction. These industries are critical to the economy as they produce the basic materials needed for the production of goods and services in secondary and tertiary industries. The term primary industry is commonly used in developed economies where the focus is on innovation and value-added products; however, it remains vital in developing countries where the primary sector still makes up a significant portion of the economy.