Write a short Paragraph on The Uses Of Natural Resources In The Development Of A Country (SLC 2060)

Very Important....fast development....provide raw materials....increase exports....reduce imports....promote tourism....earn foreign currency....solve unemployment problem

The Uses Of Natural Resources in the Development of a Country

Natural resources significantly contribute to the development of a country. If a country is reach in natural resources, it certainly accelerates the pace of development. Natural resources such as forrest, water resources, mines, mountains, natural gases, natural oil, etc. are very important. These resources certainly uplift the economic status of a country mainly in two ways: firstly, they provide the industries with the raw materials required; and secondly, they can increase exports which promote foreign currency income. If a country owns more raw materials and productions than required, they can be sold to foreign countries. Similarly, natural resources reduce the imports. If a country owns a lot of productions of multiple sorts of goods, it does not need to import them from other countries. Similarly, tourism can be promoted if a country is rich in natural resources. If a country owns adequate natural resources, industrialization gets promoted rapidly; and ultimately the economic status of the people gets uplifted. Indirectly, natural resources can reduce the problem of unemployment. Industries require multiple types of manpowers. Therefore, they provide many job opportunities to the people who are unemployed. Thus natural resources crucially contribute to the development of a nation by providing raw materials, increasing exporting, reducing imports, promoting tourism, earning foreign currency and lessening the problem of unemployment.