Economy of Vinalia

Economy of Vinalia

Orlavo's business centre, Vinalia's largest city and one of several economic hubs across the country.
Currency	Vinalian Zolota (VNZ; Z)
Fiscal year	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	3.1% (2018) 3.2% (2019) 3.9% (2020f) 4.2% (2021f)
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.)
Inflation (CPI)	2.3% (2020 est.) 2.5% (2019) 2.4% (2018)
Population below poverty line	22.6% (2018) 19.9% at risk of poverty
Gini coefficient	27.3 Low (2017)
Human Development Index	0.76714 high (2020) 0.7618 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.)
Average net salary	Z2,699 / €522.00 / $582.88 monthly (2018 est.)
Main industries	Petroleum Sugar petrochemicals mining vehicles steel textiles Coffee Uranium Military Industry electronics agricultural produce livestock
External
Exports	$76.313 billion (2020)
Export goods	Petroleum, natural gas, coffee, sugar petrochemicals, metals, uranium, electronics, foodstuffs, vehicles and aircraft
Main export partners	Chistovodia 30% Ardesia 13.6% Ansan 9.4% Soravia 9% Senria 8.4% Euclean Community 5.7% Other 23.9%
Imports	$54.2 billion (2020)
Import goods	Machinery, plastic, pharmaceuticals, vehicles, electronics, consumer goods, metal alloys
Main import partners	Chistovodia 22.0% Soravia 16.2% Senria 13% Euclean Community 9.8% Ansan 8.3% Marchenia 8% Other 22.7%
FDI stock	$102.4 billion (2017 est.)
Current account	$22.112 billion (2020)
Gross external debt	$88.4 billion (2019 est.)
Public finances
Public debt	29.6% of GDP (2019)
Budget balance	-0.8% of GDP (2020)
Revenues	$28.876 billion(2017 est.)
Expenses	$42.1 billion (2017 est.)
Credit rating	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.

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.

Vinalian Oil tanker in Ogbei, Ansan. Ansan is Vinalias largest petrochemical importer.

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
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

Finance

Banking

File:Banco deGuatemala.JPG

The National Bank Building in Orlavo

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	Soravian Bank #1	Soravia	Z474,31	2,611
4	Export-Import Bank of Vinalia	Vinalia	Z452,737	96
5	Lion Bank	Vinalia	Z401,571	1,962
6	Soravian Bank #2	Soravia	Z356,140	711
7	Bank of the Farmer	Vinalia	Z310,648	638
8	Vinalian Bank of the Asterias	Vinalia	Z301,527	891
9	Ardesian Bank #1	Ardesia	Z285,262	468
10	Bank of Velkarichka	Vinalia	Z247,883	746

Securities

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 Voliya Oil (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 group, and Norinko Vinalias largest electronics manufacturer.

Vinalia is set to open another stock exchange in 2024 when it will open the Vinalinsk Stock Exchange.