The phrase “establishing a multi-purpose cooperative society” where the society contains 3 main sections (foodstuffs, building materials, animal feed) and cooperative societies are considered one of the development institutions.
The phrase “Establish a multi-purpose cooperative society” where the society contains 3 main sections (foodstuffs, building materials, animal feed). Cooperative societies are considered one of the development institutions that contribute to achieving economic and social development in countries. They are also institutions for gathering capabilities and potentials and directing them to support the national economy. Cooperation has become a basis for developing and growing local communities. And achieving economic services for vital facilities in various aspects of citizens’ lives, as the society provides many needs for many market sectors such as the individual sector, the farm sector, and the contractors sector.
The service sector does not rely on raw materials or goods for sale; rather, its activities are centered around providing intangible services. Like this: Transportation services, hospitality services, healthcare services, and others. This sector is considered the main driver of major economies; for example, in the United States, the service sector accounts for 85% of the GDP. As for the service sector in Saudi Arabia, statistics and indicators confirm its contribution of about 48.02% to the GDP. This vital sector includes five main activities.
Namely:
The Gross Domestic Product (GDP) in Saudi Arabia reached 2,625,442 million SAR, with the “Wholesale and retail trade, restaurants, and hotels” sector contributing approximately 10.8% (284,579 million SAR).
Contributes approximately 6.6% (172,304 million SAR).
The Financial, Insurance, Real Estate, and Business Services sector contributes approximately 6.4% (SAR 377,725 million) to the Gross Domestic Product (GDP).
This sector contributes approximately 2.5% (SAR 65,729 million) to the Gross Domestic Product (GDP).
It contributes 21.9% (SAR 576,089 million) to the Gross Domestic Product (GDP).
