This raised productivity by replacing raw physical labour and drawing on machine operation and load optimisation skills, but was not the kind of general-purpose technology represented by steam power, electricity or general computation. My thanks to Merylin Coombs for pointing out this similarity.
While the sector accounts for a mere 3 per cent of total employment, as is shown in the slide, the sector accounts for 45 per cent of GDP; 91 per cent of merchandise exports and 62 per cent of fiscal revenues. Specifically, in respect of the budget, 43 per cent of every dollar of expenditure is financed by energy sector revenues.