The Importance of Industry

Last updated 13 June 2020
The Importance of Industry

The industry is one of the most important factors that help the renaissance and development of societies, which publishes and increases the economy of countries and has great importance in the state and its members. The industry is the backbone of the countries. Without industry, the state’s economy becomes weak and defines debts and declares bankruptcy and works to spread debts and diseases and others. The importance of the industry is in what Follows:

Strengthening the Structure of the Economy

First: strengthening the structure of the national, local, and regional economy and working to raise the living standards of people.

Jobs

Second: Providing job opportunities and employing unemployed workforce and working to raise the efficiency of the worker’s tool and the economy works to raise the pace of urbanization in countries and works to develop levels of education, health, services and culture and works to build new patterns of social relations among workers in the industry.

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Increased Domestic Product

Third: Increasing the gross domestic product through industry and working to enrich the peoples and raise their living standards and increase the demand for consumer goods and services, which increases the state’s economy and growth.

Industry and Economy

Fourth: The industry assists in stabilizing the economy, protecting it from the various fluctuations it is exposed to for certain reasons, and strengthening the environment’s relationship between economic sectors.

Industry Development

Fifth: The development in the industry contributes to the consolidation of political independence and the ability to achieve self-sufficiency and contributes to filling the shortfall and the necessary needs of the state.

Promote Local Products

Sixth: Encouraging local products on imported products and commodities and helping in developing other economic activities such as agriculture, trade, and transport.

Necessities of Life

Seventh: Industry is one of the most important ingredients of life that cannot be dispensed with. It is the source of income for many countries and provides all the needs and requirements of life. It also helped discover many modern devices that made it easier for people to carry out their responsibilities.

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Human Well-Being

Eighth: The importance of the economy increases the human well-being through high income, and the individual becomes a high degree of satiety and self-sufficiency, so he resorts to many things, including travel, adventures, and the like.

Increase the State Balance

Ninth: It works to increase the state’s balance in the number of products, and therefore the state tends to export and consequently enter the hard currency on the country, so the balance of payments crises in the interest of the state, and consequently, the income of workers increases and usually the industry provides a large income for the owners of large and medium factories.

اقراء المقالة باللغة اخرى : العربية

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