Economy of Arkiasis

Economy of Arkiasis

File:Algonquin1.jpg Lower Aspatria City
Currency	Arkiasin Crown (₵/Cr) (ARC)
Fiscal year	calendar year
Trade organisations	EC, OEN, NOSDO, WA and others
Statistics
GDP	$4.716 trillion (nominal, 2014) $4.068 trillion (PPP, 2014)
GDP growth	-0.4% (Q2 2015)
GDP per capita	$49,071 (nominal, 2014) $42,328 (PPP, 2014)
GDP by sector	agriculture: 1.7%, industry: 29.6%, services: 68.7% (2012 est.)
Inflation (CPI)	0.2% (2015 est.)
Population below poverty line	7.0% (2013)
Gini coefficient	29.0 (2013)
Labour force	50.968 million
Labour force by occupation	agriculture: 2.0%, industry: 27.5%, services: 70.5% (2012 est.)
Unemployment	5.6% (July 2015)
Average gross salary	₵7,630 / $4,578 monthly
Average net salary	₵4,430 / $2,658 monthly
Main industries	petroleum and natural gas, aircraft, motor vehicles, financial services, shipbuilding, machinery, chemicals, iron, coal, timber, mining, food processing, fish products, tourism, pharmaceuticals, wood and paper products
Ease-of-doing-business rank	20th
External
Exports	44%
Export goods	Aircraft, motor vehicles and parts, chemicals, ships, refined oil, natural gas, machinery and equipment, foodstuffs, agricultural products, pharmaceuticals
Main export partners	Ainin Britanno Luziyca Template:Country data Lyonsland Nevanmaa Template:Country data United Republics Template:Country data Vestmark Vjaarland Vyvland
Imports	56%
Import goods	Textiles, rubber and plastic products, consumer goods, coal, computers and accessories, electrical equipment, motor vehicles and parts, metals, crude oil, machinery and equipment, foodstuffs
Main import partners	Ainin Template:Country data Atlantica Britanno Template:Country data Lyonsland Namor Nevanmaa Template:Country data Sjalhaven Vjaarland Vyvland
Public finances
Public debt	71.5% of GDP
Revenues	idk
Expenses	a lot
Economic aid	donor: $27.7 billion (0.61% of GDP)
Credit rating	Wellington: AAA
Foreign reserves	very money
All values, unless otherwise stated, are in US dollars.

Arkiasis has a developed mixed economy, with a highly skilled and educated labour force, high standards of living, abundant natural resources and low levels of corruption.

Arkiasis' economy is an example of a mixed economy; a prosperous capitalist welfare state featuring a combination of free market activity, government regulation and state ownership in certain key sectors. Arkiasis maintains a large welfare state with high standards of living and low levels of poverty. Public health care is free (above a certain level), and parents have 32 weeks paid parental leave annually. 29.6% of Arkiasis' GDP comes from industry and manufacturing, 68.7% comes from the service sector and 1.7% from the agricultural sector. Despite being a service-orientated economy, Arkiasis maintains a large manufacturing sector defined by the automobile, aircraft and shipbuilding industries. Arkiasis has obtained one of the highest standards of living in the world in part due to its highly diverse economy.

Until the 1980s, many of Arkiasis' largest industry firms were nationalised; in recent years, however, privatisation has reduced state holdings to a level comparable to other western economies. Nevertheless, the state maintains large ownership positions in key industrial sectors, such as the strategic petroleum sector (ArkPetro), energy production (Energy One), national flag carrier (ArkiasiAir), national railway company (NRCA), and telecommunications provider (ArkTel). Through these big companies, the government controls approximately 20% of the stock values at the Aspatria Stock Exchange.

Major Arkiasian companies includes Nordbank, Piedmont Bank, James Morgenn Chance and Juneau Bank (banking); Volor, VGW, Majestic, Valiant, Luxic and Durant (automotive); Bering (aerospace); Tyzer and Aldyll (pharmaceuticals).

The country is richly endowed with natural resources including oil in the Eldmark Oil Sands and Northern Sea, hydropower, fish, forests, and large deposits of coal and iron. Large reserves of petroleum and natural gas were discovered in the 1950s, which led to a boom in the economy.

The global financial crisis of 2008 caused a major recession, which led to a significant rise in unemployment in Arkiasis. By October 2009, Arkiasis' national unemployment rate had reached 8.4 percent, with provincial unemployment rates varying from a low of 4.2 percent in Storberg to a high of 12.2 percent in Vesperia. The national GDP contracted by nearly 8% in 2008 and 2009 before returning to positive growth in 2010, however economic growth remains slow averaging at just 1.2% per year since 2010. Arkiasis has a national debt of 88%.