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DEFINITION of 'Industrialization'. The process in which a society or country (or world) transforms itself from a primarily agricultural society into one based on the manufacturing of goods and services.
The term industrialized country may be somewhat ambiguous, as industrialization is an ongoing process that is hard to define. The first industrialized country was the United Kingdom, followed by Belgium. Later it spread further to Germany, United States, France and other Western European countries. According to some economists such as Jeffrey Sachs, however, the current divide between the developed and developing world is largely a phenomenon of the 20th century.