Economy of Vinalia: Difference between revisions
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| caption = [[Orlavo]]'s business centre, Vinalia's largest city and one of several economic hubs across the country. | | caption = [[Orlavo]]'s business centre, Vinalia's largest city and one of several economic hubs across the country. | ||
| currency = Vinalian Zolota (VNZ; | | currency = [[Vinalian Zolota]] (VNZ; Ƶ) | ||
| year = {{wp|Calendar year}} | | year = {{wp|Calendar year}} | ||
| organs = [[International Trade Organisation|ITO]] | | organs = [[International Trade Organisation|ITO]] | ||
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The '''economy of Vinalia''' is a {{wp|Developing country|Developing/Emerging}} Upper-middle income economy. It is the 49th largest world economy by nominal GDP, and the 39th largest by Purchasing Power Parity. It is the smallest economy in [[Asteria Superior]]. | The '''economy of Vinalia''' is a {{wp|Developing country|Developing/Emerging}} Upper-middle income economy. It is the 49th largest world economy by nominal GDP, and the 39th largest by Purchasing Power Parity. It is the smallest economy in [[Asteria Superior]]. | ||
== Currency == | == Currency == | ||
The only legal tender in Vinalia is the Vinalian Zolota (VNZ; | The only legal tender in Vinalia is the [[Vinalian Zolota]] (VNZ; Ƶ). | ||
== Trade == | == Trade == | ||
Vinalia is an export-oriented economy. Vinalias economy has focused historically on the export of products. Vinalias start as a [[Colony of Vinalia|plantation colony]] focused in exporting agricultural goods such as, {{wp|Sugar cane}}, {{wp|Tobacco}}, {{wp|Cotton}}, among others has made exportation the primary driver of economical development in the country. Following reunification Vinalian exportation increased fivefold, as the country experienced an explosion in demand for Vinalian products. Stability in the country allowed it to establish itself as an important player in key sectors. Vinalian Agricultural products represent almost half of all exports. | Vinalia is an export-oriented economy. Vinalias economy has focused historically on the export of products. Vinalias start as a [[Colony of Vinalia|plantation colony]] focused in exporting agricultural goods such as, {{wp|Sugar cane}}, {{wp|Tobacco}}, {{wp|Cotton}}, among others has made exportation the primary driver of economical development in the country. Following reunification Vinalian exportation increased fivefold, as the country experienced an explosion in demand for Vinalian products. Stability in the country allowed it to establish itself as an important player in key sectors. Vinalian Agricultural products represent almost half of all exports. | ||
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== Sectors == | == Sectors == | ||
=== Agriculture === | === Agriculture === | ||
==== Bananas and Plantains ==== | |||
Vinalia is one of the top global exporters of Bananas, and the crop represents a significant number of exports from the country with about 1.5 billion dollars in yearly exports, 1.97% of the total export value. Bananas are grown primarily by large scale industrial farms or by foreign corporations, with only limited amount of small scale farmers. Chistovodia buys all of its Bananas from Vinalia, with 80% of all bananas being exported to that country. Limited export of bananas exists for Soravia and [[Cassier]] do to distance but these countries acquire most of their bananas from Vinalia. | |||
Foreign companies have come under criticism for their treatment of mostly indigenous workers, and lawsuits have been raised since the 70s and 80's where fruit companies were accused of utilizing Republic of Vinalia army forces to terrorize and attack striking workers. Many lawsuits were settled in the 90's and early 2000's although many question working conditions, with long hours and limited pay. | |||
=== Coffee === | |||
[[File:Guatemala 2011 228 - San Martín Jilotepeque Coffee Harvest.jpg|thumb|right|Vinalian coffee]] | |||
Coffee is an important crop in the Vinalian economy, with it enjoying vast exportation abroad. Coffee exports account for about 1.277 billion dollars or 1.67% of the total value of exports. Coffee began to be grown in limited quantities during the colonial period, but reached its greatest extent during the late 19th and early 20th centuries where Vinalia cemented itself as a key coffee producer. Vinalian coffee is known for its taste being described as strong, and moderate in acidity.<ref name="Coffee in Vinalia">{{cite news |url=https://youtube/Qcp2W1-SFt4 |work=[[Rizealand|New Coffee]] |title=The all you need to know about Vinalian Coffee |date=14 April 2017 |access-date=11 April 2022}}</ref> It is sought after by consumer and large scale businesses in other countries. Vinalian coffee is produced mostly by large farms or cooperatives, and is usually carried out by indigenous communities in family owned farms, with some families specializing on the cultivation of the crop since the 1850's. | |||
==== Wine ==== | ==== Wine ==== | ||
[[File:Виноградники Шабо. Мерло.jpg|thumb|right|Wineyard in [[Vinalia|Sunrak]], [[Vinalia|North Bin province]]]] | [[File:Виноградники Шабо. Мерло.jpg|thumb|right|Wineyard in [[Vinalia|Sunrak]], [[Vinalia|North Bin province]]]] | ||
Vinalian wine is noted for its quality, | Vinalian wine is noted for its quality, and it has seen increased growth in recent years. Vinalia has been producing wine since the 1800's when indigenous farmers began growing {{wp|grapes}} and turning them into wine on the advice of priests. Vinalian wine growing was limited as Vinalians do not consume wine, and most wine was used in [[Solarian Catholic Church|Solarian Catholic]] settings with limited markets. Wine began to be grown in greater quantities in the Socialist North Vinalia to serve as export to Chistovodia. Vinalian wine tradition grew in the 1970's as Etrurian Socialist exiles arrived to the country. Following reunification Vinalian wine began to see limited production as Vinalians did not consume wine. Soravian wineries agreed in 1996 to buy Vinalian wine, as most Vinalian wine was grown and sold by indigenous small farmers. Vinalian wine enjoyed great popularity in Soravia as a result of strong {{wp|marketing}} by its distributors, and represents a majority of whats consumed in the country. Vinalian wine is seen increasingly as a commodity and it enjoys export in the country and across Euclea. Wine produced in the country was 90% grown for export in 2000, but had reached 60% in 2010 as domestic consumption increased. Today Vinalian wineries produce high quality wine for sale in Euclea and across the Asterias, with Chistovodia buying 90% of all its wine from Vinalia. | ||
=== Mining === | === Mining === | ||
=== Industry === | === Industry === | ||
==== Machinery ==== | |||
Vinalia has maintained limited investment and growth in this sector since industrialization. Vinalia received investment especially from abroad to develop a local Machinery industry aimed primarily at export to Chistovodia, using Vinalias cheaper labor. In 2000 90% of all products entering into this sector were ultimately exported. Today that number represents 70%. Items such as computers are manufactured in Vinalia by foreign companies and exported abroad or bought locally. Items such as {{wp|Air Conditioner}}s, and {{wp|freezer}}s are 95% sold as export to Chistovodia as they hold little market value in Vinalia, as cheaper alternatives exist. Vinalian owned enterprises have made advances in the sector but ultimately rely on a primarily export market. It represents about 5.3% of Vinalias total exports ($4.044 billion). | |||
=== Energy === | === Energy === | ||
[[File:Laguna Verde Nuclear Power Station.jpg|thumb|right|Cirnan Nuclear Power Plant]] | [[File:Laguna Verde Nuclear Power Station.jpg|thumb|right|Cirnan Nuclear Power Plant]] | ||
Vinalia consumes 49,000 GW*h per year, which is covered about half with {{wp|Nuclear power}} at | Vinalia consumes 49,000 GW*h per year, which is covered about half with {{wp|Nuclear power}} at 51%, with 34% being {{wp|fossil fuel}} power plants with 19% being {{wp|Gas-fired_power_plant|Natural Gas}}, and 15% being {{wp|Coal-fired_power_station|Coal}}. Renewable sources provide for the remaining 15% with 10% {{wp|Hydro energy|Hydro}}, 3% being {{wp|Wind energy|Wind}}, 1% {{wp|Solar energy|Solar}}, and 1% {{wp|Geothermal energy|Geothermal}}. All Vinalian energy is managed and owned by the state-owned Vinalian Electricity Company (Віналія Електрика компанія; Vinaliya Elektryka Kompaniya), among the largest companies in the country. | ||
The Vinalian energy sector has seen growth in recent years do to the expansion of electrification, specially in rural areas. Vinalia is among the largest users of Nuclear Energy in the world owing to the countries fully owned and operated 2 {{wp|nuclear reactor}}s in the Cirnan {{wp|Nuclear Power plant}}, along with its stake in the Chistovodian owned Chisvin plant with its 4 reactors. Vinalia has sought to expand its usage of nuclear power in recent years, as it seeks to become a net energy exporter in the region, primarily to Ardesia. Vinalian investment in {{wp|renewable energy}} has seen sector growth in the country, with although Vinalia has remained more interested in nuclear energy to meet its energy needs. Fossil fuels primarily coal and natural gas have made up greater parts of the energy sector in recent years, and Vinalia has received criticism for its continued construction of coal power plants in the face of the growing challenges of {{wp|Climate change}}. | The Vinalian energy sector has seen growth in recent years do to the expansion of electrification, specially in rural areas. Vinalia is among the largest users of Nuclear Energy in the world owing to the countries fully owned and operated 2 {{wp|nuclear reactor}}s in the Cirnan {{wp|Nuclear Power plant}}, along with its stake in the Chistovodian owned Chisvin plant with its 4 reactors. Vinalia has sought to expand its usage of nuclear power in recent years, as it seeks to become a net energy exporter in the region, primarily to Ardesia. Vinalian investment in {{wp|renewable energy}} has seen sector growth in the country, with although Vinalia has remained more interested in nuclear energy to meet its energy needs. Fossil fuels primarily coal and natural gas have made up greater parts of the energy sector in recent years, and Vinalia has received criticism for its continued construction of coal power plants in the face of the growing challenges of {{wp|Climate change}}. | ||
The Vinalian energy sector was owned and operated by private and public utility companies, with the government-owned Quetzal Energy Company having a large control on the sector do to it being the official importer of energy from Chisvin. In 2010 the Conservative government of Ulyana Hryhorivna, spearheaded an initiative to streamline the sector to counter growing prices. The construction of the Cirnan energy plant quickly placed most of the sector under the control of Quetzal energy as Nuclear power represented a majority of the sector, although Conservative desires to prevent such a heavy handed government control, public sentiment favored nationalization for the purposes of lower prices. In 2018 the government of Tuden Najic nationalized the entirety of the sector in the largest nationalization in the countries history. Bringing Quetzal Energy and all other energy providers under the government owned Vinalian Electricity Company, which is | The Vinalian energy sector was owned and operated by private and public utility companies, with the government-owned Quetzal Energy Company having a large control on the sector do to it being the official importer of energy from Chisvin. In 2010 the Conservative government of Ulyana Hryhorivna, spearheaded an initiative to streamline the sector to counter growing prices. The construction of the Cirnan energy plant quickly placed most of the sector under the control of Quetzal energy as Nuclear power represented a majority of the sector, although Conservative desires to prevent such a heavy handed government control, public sentiment favored nationalization for the purposes of lower prices. In 2018 the government of Tuden Najic nationalized the entirety of the sector in the largest nationalization in the countries history. Bringing Quetzal Energy and all other energy providers under the government owned Vinalian Electricity Company, which is fully government-owned. | ||
==== {{wp|Oil}} and {{wp|Natural Gas}} ==== | ==== {{wp|Oil}} and {{wp|Natural Gas}} ==== | ||
{{multiple image | {{multiple image | ||
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| footer = (Left) {{wp|Oil_platform|offshore platforms}} in the [[East Arucian Sea]]. (Right) Natural gas {{wp|drilling rig}} in North Juyu Ruwach. | | footer = (Left) {{wp|Oil_platform|offshore platforms}} in the [[East Arucian Sea]]. (Right) Natural gas {{wp|drilling rig}} in North Juyu Ruwach. | ||
}} | }} | ||
Vinalia maintained a production of some 534,000 {{wp|Barrel_(unit)#Oil_barrel|barrels of oil}} per day in 2019. Making the country the 14th largest oil producer in the world. {{wp|Upstream_(petroleum_industry)|exploitation}}, {{wp|Oil_refinery|refining}}, and {{wp|Downstream_(petroleum_industry)|distribution}} of Vinalian oil resources is managed by the 70% state-owned | Vinalia maintained a production of some 534,000 {{wp|Barrel_(unit)#Oil_barrel|barrels of oil}} per day in 2019. Making the country the 14th largest oil producer in the world. {{wp|Upstream_(petroleum_industry)|exploitation}}, {{wp|Oil_refinery|refining}}, and {{wp|Downstream_(petroleum_industry)|distribution}} of Vinalian oil resources is managed by the 70% state-owned PetroVinalia, the largest company in Vinalia. Vinalia obtains most of its oil from {{wp|Oil_platform|offshore platforms}} in the [[East Arucian Sea]], although inland exploitation in [[Vinalia|Zdavro]], the Bin River region, and the Tziran Desert exists. International companies also represent a major component on the oil industry, although they control only 40% of production, with PetroVinalia controlling most of the countries oil. The oil sector is an important employer in many coastal towns and the island of Kisharsk from where oil platforms are resupplied. | ||
Vinalia has enjoyed a general explosion in oil revenue since the late 1990's and Oil revenues has provided the government with large sections of | Vinalia has enjoyed a general explosion in oil revenue since the late 1990's and Oil revenues has provided the government with large sections of revenue in recent years. Vinalia's low reliance on oil for the production of electricity, has allowed the country to be self-sufficient on its oil needs and export the rest. Vinalia exports mainly to [[Coius|Coian]], and Asterian markets. The New Pilar Refinery near Catherinsk is the largest refinery in Vinalia, with a capacity of 200 thousand barrels a day, was built in 2006 to support the growing expansion of the Petrochemical industry. With Vinalia refining all of its crude, holding a capacity of 650,000 barrels per day. International companies control a majority in refining capacity and import [[Gapolania]]n, and Ardesian crude. Vinalia imports {{wp|gasoline}} and {{wp|diesel}} primarily from Soravia, do to Soravian cheap prices and the establishment of Soravian owned {{wp|gas station}}s which cater to the sense that Soravian {{wp|gasoline}} is better. With PetroVinalia gasoline considered to be of less quality, although studies have found few differences between both types. Diesel is also imported from Chistovodia, and Satucin. Vinalias largest export partners are Ansan, Senria, Ardesia and the Euclean Community. | ||
Vinalia also mines large quantities of natural gas, primarily in the East Arucian as well. Its production was around 20,510 (million {{wp|Cubic metre|m<sup>3</sup>}}) in 2019. Vinalian natural gas production has grown to accommodate local demand along with growing opportunity for exportation abroad primarily in Ardesia and Chistovodia. Vinalia also produces great quantities of {{wp|Liquefied petroleum gas}} mostly {{wp|Autogas}}, about 8% of Vinalian vehicles and most of its buses and taxis use Autogas for fuel. | Vinalia also mines large quantities of natural gas, primarily in the East Arucian as well. Its production was around 20,510 (million {{wp|Cubic metre|m<sup>3</sup>}}) in 2019. Vinalian natural gas production has grown to accommodate local demand along with growing opportunity for exportation abroad primarily in Ardesia and Chistovodia but such options have not been explored. Vinalia also produces great quantities of {{wp|Liquefied petroleum gas}} mostly {{wp|Autogas}}, about 8% of Vinalian vehicles and most of its buses and taxis use Autogas for fuel. | ||
=== Finance === | === Finance === | ||
==== Banking ==== | ==== Banking ==== | ||
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==== Securities ==== | ==== Securities ==== | ||
[[File:Buenos Aires - Bolsa de Comercio.jpg|thumb|right|Vinalian Stock Exchange in Velkarichka]] | [[File:Buenos Aires - Bolsa de Comercio.jpg|thumb|right|Vinalian Stock Exchange in Velkarichka]] | ||
Vinalia has a single securities market, the Vinalian Stock Exchange (Віналінська фондова біржа ; Vinalinsʹka Fondova Birzha) in Velkarichka. The market has grown steadily, with its main indices increasing by more than 300% in the last decade, as foreign companies have begun making business in the Vinalian exchange. Although growing steadily in recent years, it still remains relatively unimportant in the Asterias. Most companies in the exchange are Vinalian companies, with foreign companies attracted to the country, do to favorable trading conditions between Vinalia and Chistovodia and the possibility of accessing that market. Major traders in the exchange include the Vinalian government through its numerous government owned companies including [[ | Vinalia has a single securities market, the Vinalian Stock Exchange (Віналінська фондова біржа ; Vinalinsʹka Fondova Birzha) in Velkarichka. The market has grown steadily, with its main indices increasing by more than 300% in the last decade, as foreign companies have begun making business in the Vinalian exchange. Although growing steadily in recent years, it still remains relatively unimportant in the Asterias. Most companies in the exchange are Vinalian companies, with foreign companies attracted to the country, do to favorable trading conditions between Vinalia and Chistovodia and the possibility of accessing that market. Major traders in the exchange include the Vinalian government through its numerous government owned companies including [[PetroVinalia]] (70% state owned), and the Vinalian Electricity Company (90% state owned), which are among the most important traders in the exchange. Other companies such as [[Red Coast]] Vinalias largest auto manufacturer, Velga Group Vinalias largest retailer, Quetzal Group the countries largest Agricultural conglomerate, and Norinko Vinalias largest electronics manufacturer. | ||
Vinalia is set to open another stock exchange in 2024 when it will open the [[Vinalinsk|Vinalinsk Stock Exchange]]. | Vinalia is set to open another stock exchange in 2024 when it will open the [[Vinalinsk|Vinalinsk Stock Exchange]]. | ||
Latest revision as of 20:05, 28 May 2022
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 Orlavo's business centre, Vinalia's largest city and one of several economic hubs across the country. | |
| Currency | Vinalian Zolota (VNZ; Ƶ) |
|---|---|
| Calendar year | |
Trade organisations | ITO |
| Statistics | |
| Population |  25,878,816 (2020) |
| GDP | $269.66 billion (nominal, 2020 est.) $593.25 billion (PPP, 2020 est.) |
| GDP rank | 49th (nominal, 2020) 39th (PPP, 2020) |
GDP growth |
|
GDP per capita | $10,420 (nominal, 2020 est.) $22,924 (PPP, 2020 est.) |
GDP per capita rank | 41st (nominal, 2020) 33rd (PPP, 2020) |
GDP by sector | agriculture: 16.5% industry: 33.5% services: 50% (2018 est.) |
| 2.3% (2020 est.) 2.5% (2019) 2.4% (2018) | |
Population below poverty line |  22.6% (2018) 19.9% at risk of poverty |
| 27.3 Low (2017) | |
| 0.76714 high (2020) 0.7118 high IHDI (2018) | |
Labour force | 17,309,792 (2020)(60.7% employment rate; 2019) |
Labour force by occupation | agriculture: 20.4 industry: 28.5% services: 51.1% (2020) |
| Unemployment | 3.7% (2019) |
Average gross salary | Z3,102 / €600.00 / $669.98 monthly (2018 est.) |
| Z2,699 / €522.00 / $582.88 monthly (2018 est.) | |
Main industries | |
| External | |
| Exports | $76.313 billion (2020) |
Export goods | Petroleum, natural gas, coffee, sugar petrochemicals, metals, uranium, electronics, foodstuffs, vehicles and aircraft |
Main export partners |
|
| Imports | $54.2 billion (2020) |
Import goods | Machinery, plastic, pharmaceuticals, vehicles, electronics, consumer goods, metal alloys |
Main import partners |
|
FDI stock | $102.4 billion (2017 est.) |
| $22.112 billion (2020) | |
Gross external debt | $88.4 billion (2019 est.) |
| Public finances | |
| 29.6% of GDP (2019) | |
| -0.8% of GDP (2020) | |
| Revenues | $28.876 billion(2017 est.) |
| Expenses | $42.1 billion (2017 est.) |
| FitzAllen & Kings: B+ (domestic) B- (foreign) Outlook: Stable | |
Foreign reserves | $119.0 billion (2018 est.) |
The economy of Vinalia is a Developing/Emerging Upper-middle income economy. It is the 49th largest world economy by nominal GDP, and the 39th largest by Purchasing Power Parity. It is the smallest economy in Asteria Superior.
Currency
The only legal tender in Vinalia is the Vinalian Zolota (VNZ; Ƶ).
Trade
Vinalia is an export-oriented economy. Vinalias economy has focused historically on the export of products. Vinalias start as a plantation colony focused in exporting agricultural goods such as, Sugar cane, Tobacco, Cotton, among others has made exportation the primary driver of economical development in the country. Following reunification Vinalian exportation increased fivefold, as the country experienced an explosion in demand for Vinalian products. Stability in the country allowed it to establish itself as an important player in key sectors. Vinalian Agricultural products represent almost half of all exports.
Vinalias largest trading partner is Chistovodia, with whom a total of 34.818 billion dollars are traded each year, accounting for 27% of all trade, being the countries largest exporter and importer. Vinalia exports twice as much as it imports from its northern neighbor, with Vinalian agricultural goods, electronics, textiles being exported, while consumer goods, energy, and chemicals are imported. Trade between both borders additionally includes the illegal smuggling of goods, mostly consumer products into Chistovodia. Vinalias trade relationship with Chistovodia is favored by good trade deals between both countries.
Soravia represents Vinalias 2nd largest trading partner with a total of 15.649 billion dollars are traded each year, accounting for 12% of its trade, its the countries 4th largest export partner and 2nd largest importer. Vinalia imports more from Soravia than it exports a trend that has existed since 2017, with Vinalian agricultural goods, minerals, and textiles being exported, while consumer goods, petrochemicals, and military equipment are imported. Vinalia an exporter of petrochemicals itself, buys cheap and accessible oil from Soravia, with Soravian petrochemicals representing 70% of all Vinalian imported oil.
Ardesia is the 3rd largest trade partner of Vinalia, with whom a total of 14 billion dollars are traded each year, accounting for 11% of its trade, its the countries 2nd largest export partner and 8th largest importer. Vinalia exports to Ardesia than it imports, with Vinalian automobiles, petrochemicals, electronics being exported, while agricultural goods, consumer goods, and minerals are imported.
Senria and Ansan represent Vinalias 4th and 5th largest trading partners, with whom a total of 25.128 billion dollars are traded each year, accounting for 19% of its trade, 10% with Senria, and 9% with Ansan. Senria and Ansan represent Vinalias 5th and 3rd largest export partners, and 3rd and 5th import partners respectively. Vinalia exports more to Ansan while importing more from Senria. Vinalian exports to both countries consist mainly of petrochemicals, textiles, and agricultural goods, while it imports mainly electronics, machinery, and consumer goods. Senrian imports have increased considerably in the last 3 years, as Vinalian importation of Senrian electronics has increased greatly.
Export
Primary items of export are Agricultural goods, such as Sugarcane, Coffee, Avocados, petrochemicals, automobiles, consumer goods, and textiles.
| Country | Billions of dollars | % |
|---|---|---|
 Chistovodia
|
22.894 | 30 |
 Ardesia
|
10.379 | 13.6 |
 Ansan
|
7.173 | 9.4 |
 Soravia
|
6.868 | 9 |
 Senria
|
6.410 | 8.4 |
 Euclean Community
|
4.350 | 5.7 |
 Rizealand
|
3.587 | 4.7 |
| File:Eldmark.png Eldmark | 3.052 | 4 |
| Other | 11.600 | 15.2 |
| Total | 76.314 | 100 |
Import
Primary items of import are consumer goods, electronics, petrochemicals, manufactured goods.
| Country | Billions of dollars | % |
|---|---|---|
| Chistovodia
|
11.924 | 22 |
| Soravia
|
8.781 | 16.2 |
| Senria
|
7.046 | 13 |
| Euclean Community
|
5.312 | 9.8 |
| Ansan
|
4.499 | 8.3 |
 Marchenia
|
4.336 | 8 |
| Ardesia
|
3.631 | 6.7 |
 Shangea
|
3.469 | 6.4 |
| Other | 5.203 | 9.6 |
| Total | 54.202 | 100 |
Sectors
Agriculture
Bananas and Plantains
Vinalia is one of the top global exporters of Bananas, and the crop represents a significant number of exports from the country with about 1.5 billion dollars in yearly exports, 1.97% of the total export value. Bananas are grown primarily by large scale industrial farms or by foreign corporations, with only limited amount of small scale farmers. Chistovodia buys all of its Bananas from Vinalia, with 80% of all bananas being exported to that country. Limited export of bananas exists for Soravia and Cassier do to distance but these countries acquire most of their bananas from Vinalia.
Foreign companies have come under criticism for their treatment of mostly indigenous workers, and lawsuits have been raised since the 70s and 80's where fruit companies were accused of utilizing Republic of Vinalia army forces to terrorize and attack striking workers. Many lawsuits were settled in the 90's and early 2000's although many question working conditions, with long hours and limited pay.
Coffee
Coffee is an important crop in the Vinalian economy, with it enjoying vast exportation abroad. Coffee exports account for about 1.277 billion dollars or 1.67% of the total value of exports. Coffee began to be grown in limited quantities during the colonial period, but reached its greatest extent during the late 19th and early 20th centuries where Vinalia cemented itself as a key coffee producer. Vinalian coffee is known for its taste being described as strong, and moderate in acidity.[1] It is sought after by consumer and large scale businesses in other countries. Vinalian coffee is produced mostly by large farms or cooperatives, and is usually carried out by indigenous communities in family owned farms, with some families specializing on the cultivation of the crop since the 1850's.
Wine
Vinalian wine is noted for its quality, and it has seen increased growth in recent years. Vinalia has been producing wine since the 1800's when indigenous farmers began growing grapes and turning them into wine on the advice of priests. Vinalian wine growing was limited as Vinalians do not consume wine, and most wine was used in Solarian Catholic settings with limited markets. Wine began to be grown in greater quantities in the Socialist North Vinalia to serve as export to Chistovodia. Vinalian wine tradition grew in the 1970's as Etrurian Socialist exiles arrived to the country. Following reunification Vinalian wine began to see limited production as Vinalians did not consume wine. Soravian wineries agreed in 1996 to buy Vinalian wine, as most Vinalian wine was grown and sold by indigenous small farmers. Vinalian wine enjoyed great popularity in Soravia as a result of strong marketing by its distributors, and represents a majority of whats consumed in the country. Vinalian wine is seen increasingly as a commodity and it enjoys export in the country and across Euclea. Wine produced in the country was 90% grown for export in 2000, but had reached 60% in 2010 as domestic consumption increased. Today Vinalian wineries produce high quality wine for sale in Euclea and across the Asterias, with Chistovodia buying 90% of all its wine from Vinalia.
Mining
Industry
Machinery
Vinalia has maintained limited investment and growth in this sector since industrialization. Vinalia received investment especially from abroad to develop a local Machinery industry aimed primarily at export to Chistovodia, using Vinalias cheaper labor. In 2000 90% of all products entering into this sector were ultimately exported. Today that number represents 70%. Items such as computers are manufactured in Vinalia by foreign companies and exported abroad or bought locally. Items such as Air Conditioners, and freezers are 95% sold as export to Chistovodia as they hold little market value in Vinalia, as cheaper alternatives exist. Vinalian owned enterprises have made advances in the sector but ultimately rely on a primarily export market. It represents about 5.3% of Vinalias total exports ($4.044 billion).
Energy
Vinalia consumes 49,000 GW*h per year, which is covered about half with Nuclear power at 51%, with 34% being fossil fuel power plants with 19% being Natural Gas, and 15% being Coal. Renewable sources provide for the remaining 15% with 10% Hydro, 3% being Wind, 1% Solar, and 1% Geothermal. All Vinalian energy is managed and owned by the state-owned Vinalian Electricity Company (Віналія Електрика компанія; Vinaliya Elektryka Kompaniya), among the largest companies in the country.
The Vinalian energy sector has seen growth in recent years do to the expansion of electrification, specially in rural areas. Vinalia is among the largest users of Nuclear Energy in the world owing to the countries fully owned and operated 2 nuclear reactors in the Cirnan Nuclear Power plant, along with its stake in the Chistovodian owned Chisvin plant with its 4 reactors. Vinalia has sought to expand its usage of nuclear power in recent years, as it seeks to become a net energy exporter in the region, primarily to Ardesia. Vinalian investment in renewable energy has seen sector growth in the country, with although Vinalia has remained more interested in nuclear energy to meet its energy needs. Fossil fuels primarily coal and natural gas have made up greater parts of the energy sector in recent years, and Vinalia has received criticism for its continued construction of coal power plants in the face of the growing challenges of Climate change.
The Vinalian energy sector was owned and operated by private and public utility companies, with the government-owned Quetzal Energy Company having a large control on the sector do to it being the official importer of energy from Chisvin. In 2010 the Conservative government of Ulyana Hryhorivna, spearheaded an initiative to streamline the sector to counter growing prices. The construction of the Cirnan energy plant quickly placed most of the sector under the control of Quetzal energy as Nuclear power represented a majority of the sector, although Conservative desires to prevent such a heavy handed government control, public sentiment favored nationalization for the purposes of lower prices. In 2018 the government of Tuden Najic nationalized the entirety of the sector in the largest nationalization in the countries history. Bringing Quetzal Energy and all other energy providers under the government owned Vinalian Electricity Company, which is fully government-owned.
Oil and Natural Gas
Vinalia maintained a production of some 534,000 barrels of oil per day in 2019. Making the country the 14th largest oil producer in the world. exploitation, refining, and distribution of Vinalian oil resources is managed by the 70% state-owned PetroVinalia, the largest company in Vinalia. Vinalia obtains most of its oil from offshore platforms in the East Arucian Sea, although inland exploitation in Zdavro, the Bin River region, and the Tziran Desert exists. International companies also represent a major component on the oil industry, although they control only 40% of production, with PetroVinalia controlling most of the countries oil. The oil sector is an important employer in many coastal towns and the island of Kisharsk from where oil platforms are resupplied.
Vinalia has enjoyed a general explosion in oil revenue since the late 1990's and Oil revenues has provided the government with large sections of revenue in recent years. Vinalia's low reliance on oil for the production of electricity, has allowed the country to be self-sufficient on its oil needs and export the rest. Vinalia exports mainly to Coian, and Asterian markets. The New Pilar Refinery near Catherinsk is the largest refinery in Vinalia, with a capacity of 200 thousand barrels a day, was built in 2006 to support the growing expansion of the Petrochemical industry. With Vinalia refining all of its crude, holding a capacity of 650,000 barrels per day. International companies control a majority in refining capacity and import Gapolanian, and Ardesian crude. Vinalia imports gasoline and diesel primarily from Soravia, do to Soravian cheap prices and the establishment of Soravian owned gas stations which cater to the sense that Soravian gasoline is better. With PetroVinalia gasoline considered to be of less quality, although studies have found few differences between both types. Diesel is also imported from Chistovodia, and Satucin. Vinalias largest export partners are Ansan, Senria, Ardesia and the Euclean Community.
Vinalia also mines large quantities of natural gas, primarily in the East Arucian as well. Its production was around 20,510 (million m3) in 2019. Vinalian natural gas production has grown to accommodate local demand along with growing opportunity for exportation abroad primarily in Ardesia and Chistovodia but such options have not been explored. Vinalia also produces great quantities of Liquefied petroleum gas mostly Autogas, about 8% of Vinalian vehicles and most of its buses and taxis use Autogas for fuel.
Finance
Banking
The Vinalian banking sector is regulated by the Central Bank of Vinalia which is governed by a board of governors appointed by the Minister-President, and the Treasury. Currently the head of the board is Pylyp Krika. Vinalia has enjoyed a general growth in its financial sector since reunification, along with the rest of the economy, at the time of reunification close to 28 banks operated in South Vinalia, while only 3 banks existed in North Vinalia all government owned. Vinalia sought to establish Commercial banks, and numerous private banks were opened in the country, while the government combined most government owned banks into a single central bank, and gave favorable support to national banks. Soravian financial firms became heavily involved in the country, establishing local subsidiaries. Community run, agricultural banks provided cheap accessible loans primarily to small farmers, to develop crops, government injection of capital into these banks has allowed numerous to become profit driven ventures, while many provide accessible credit to farmers, and small business owners. Today close to 300 banks exist in the country many of them foreign.
The Imaguan based Bank of the Orient, was involved in a major corruption scandal in 2020, leading to Vinalian police raiding banks across the country.
| Rank | Bank name | Country | Total assets (billions of Z) | Branches in the country |
|---|---|---|---|---|
| 1 | Agricultural Bank of Vinalia |  Vinalia
|
Z530,314 | 3,931 |
| 2 | Industrial Bank | Vinalia
|
Z510,267 | 2,462 |
| 3 | Bank of Samistopol | Soravia
|
Z474,314 | 2,611 |
| 4 | Export-Import Bank of Vinalia | Vinalia
|
Z452,737 | 96 |
| 5 | Lion Bank | Vinalia
|
Z401,571 | 1,962 |
| 6 | Royal Bank | Soravia
|
Z356,140 | 711 |
| 7 | Bank of the Farmer | Vinalia
|
Z310,648 | 638 |
| 8 | Vinalian Bank of the Asterias | Vinalia
|
Z301,527 | 891 |
| 9 | Bank of Ardesia |  Ardesia
|
Z285,262 | 468 |
| 10 | Bank of Velkarichka | Vinalia
|
Z247,883 | 746 |
Securities
Vinalia has a single securities market, the Vinalian Stock Exchange (Віналінська фондова біржа ; Vinalinsʹka Fondova Birzha) in Velkarichka. The market has grown steadily, with its main indices increasing by more than 300% in the last decade, as foreign companies have begun making business in the Vinalian exchange. Although growing steadily in recent years, it still remains relatively unimportant in the Asterias. Most companies in the exchange are Vinalian companies, with foreign companies attracted to the country, do to favorable trading conditions between Vinalia and Chistovodia and the possibility of accessing that market. Major traders in the exchange include the Vinalian government through its numerous government owned companies including PetroVinalia (70% state owned), and the Vinalian Electricity Company (90% state owned), which are among the most important traders in the exchange. Other companies such as Red Coast Vinalias largest auto manufacturer, Velga Group Vinalias largest retailer, Quetzal Group the countries largest Agricultural conglomerate, and Norinko Vinalias largest electronics manufacturer.
Vinalia is set to open another stock exchange in 2024 when it will open the Vinalinsk Stock Exchange.
- ↑ "The all you need to know about Vinalian Coffee" Check
|url=value (help). New Coffee. 14 April 2017. Retrieved 11 April 2022.