Economy of Vinalia: Difference between revisions

Jump to navigation Jump to search
No edit summary
Line 205: Line 205:
|-
|-
| align="center" |3
| align="center" |3
| align= |[[Soravia|Soravian Bank #1]]
| align= |[[Soravia|Bank of Samistopol]]
| align= |{{flag|Soravia}}
| align= |{{flag|Soravia}}
| Z474,314
| Z474,314
Line 223: Line 223:
|-
|-
| align="center" |6
| align="center" |6
| align= |[[Soravia|Soravian Bank #2]]
| align= |[[Soravia|Royal Bank]]
| align= |{{flag|Soravia}}
| align= |{{flag|Soravia}}
| Z356,140
| Z356,140
Line 253: Line 253:
|-
|-
|}
|}
==== 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]]

Revision as of 18:50, 10 January 2022

Economy of Vinalia
Guatemala City Air View.jpg
Orlavo's business centre, Vinalia's largest city and one of several economic hubs across the country.
CurrencyVinalian Zolota (VNZ; Z)
Calendar year
Trade organisations
ITO
Statistics
PopulationIncrease 25,878,816 (2020)
GDPIncrease $269.66 billion (nominal, 2020 est.)
Increase $593.25 billion (PPP, 2020 est.)
GDP rank49th (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.)
2.3% (2020 est.)
2.5% (2019)
2.4% (2018)
Population below poverty line
Decrease 22.6% (2018)
Steady 19.9% at risk of poverty
Increase 27.3 Low (2017)
Increase 0.76714 high (2020)
Increase 0.7618 high IHDI (2018)
Labour force
Increase 17,309,792 (2020)
Increase(60.7% employment rate; 2019)
Labour force by occupation
agriculture: 20.4
industry: 28.5%
services: 51.1%
(2020)
UnemploymentDecrease 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
ExportsIncrease $76.313 billion (2020)
Export goods
Petroleum, natural gas, coffee, sugar petrochemicals, metals, uranium, electronics, foodstuffs, vehicles and aircraft
Main export partners
ImportsIncrease $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)
Increase $88.4 billion (2019 est.)
Public finances
Decrease 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; Z).

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
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 Shangea 3.469 6.4
Other 5.203 9.6
Total 54.202 100

Sectors

Agriculture

Wine

Vinalian wine is noted for its quality, as the country has limited wine producing capabilities mainly as a result of climate. 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. Wine began to be grown in greater quantities in the Socialist North Vinalia as foreigners liked wine. Vinalian wine tradition grew in the 1970's as Etrurian Socialist exiles arrived to the country. Following reunification Vinalian wine began to see limited export 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. 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.

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 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 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 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.