[1][need quotation to verify][2] It is a subset of the domestic economy,[3] excluding the economic activities of general government, private households, and non-profit organizations serving individuals.
In the United States the business sector accounted for about 78 percent of the value of gross domestic product (GDP) as of 2000[update].
[4] Kuwait and Tuvalu each had business sectors accounting for less than 40% of GDP as of 2015[update].
[7] The Oxford English Dictionary records the phrase "business sector" in the general sense from 1934.
[8] Word usage suggests that the concept of a "business sector" came into wider use after 1940.