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If you just build because you can build, you're not paying attention to your market, so you're more likely to produce goods that have no demand for them resulting in excessive costs to run businesses that are not profitable.
So you figure out what your market is short on and demands (F4, go to your market goods tab). Begin producing that.
If it's a manufactured good, begin producing the raw good it needs then begin producing the manufactured good.
You also want to look at your market, and anything that has major surpluses either start exporting to high demand markets, or build industries that use those resources that are in demand.
Example if you have surplus cheap wood and sulfur, but a ton of demand for paper then get building some paper mills.
Food industries also tend to be profitable, since they create an alternative good for pops to consume instead of the basic grain/meat/fish. Plus liquor can be used to cover some pop needs in the intoxicant catagory along with tobacco and opium. Or sold to countries that demand it
You also do have opium if you want to sell that to countries.
Plus silk which you can grow and use for luxury clothing, which you could then export to richer countries.
Textiles are good and easy for Egypt/Arabia too as you have all the base resources, except rubber which can be imported when you need/want it.
Later after Germany formed I grew a large fishing industry to supply their hunger, for big profit.
Being first to make Ironclads and Automobiles later can also be good profit for any nation, when suddenly the world wants to import them all from you.