economic transformation

Economic transformation refers to the process by which a country's economy changes fundamentally over time. This can involve shifting from agriculture-based activities to manufacturing and services, often leading to increased productivity, higher income levels, and improved living standards. It typically includes technological advancements, improved infrastructure, and better skills among the workforce. Such a transformation enables a country to diversify its economy, reduce dependence on limited sectors, and compete more effectively in global markets, ultimately fostering sustainable growth and development.