Declining industry relocates or perishes

A Declining Industry, according to Halton (2021), is an industry where growth might be

negative or cannot keep up with the pace of the rest of the country’s economy. There are few
factors for a declining industry and this are consumers demand may be progressively
evaporating, natural resources may be decreasing or depleting, or there may be emergent
substitutes as the result of technical advancements. During the late stages of the process, an
international aspect includes the subsequent relocation of these specific industries from
advanced to developing countries. It also illustrates a declining industry that is relocating and
perishing.
Reference:
Halton, C. (2021, June 16). Declining Industry. Investopedia. Retrieved November 20, 2021,

from https://www.investopedia.com/terms/d/decliningindustry.asp