Economy of Daobac

Economy of Daobac

Central Business District of Congvat
Currency	Vang (VNG, Ꝟ)
Fiscal year	Calendar Year
Statistics
Population	8,553,903 (2020 Census)
GDP	$351 Billion (Nominal, 2020) $490 Billion (PPP, 2020)
GDP rank	54th (Nominal, 2020)
GDP per capita	$41,800 (Nominal, 2020) $45,000 (PPP, 2020)
GDP per capita rank	12th (Nominal, 2020)
GDP by sector	Agriculture/Fisheries 4% Manufacturing 37% Services 59%
Inflation (CPI)	3.05% (2020)
Population below poverty line	8.2% at risk of poverty or social exclusion (2020)
Human Development Index	0.911
Labour force by occupation	Agriculture/Fisheries 12% Manufacturing 23% Services 75%
Unemployment	4.7%
Average gross salary	Ꝟ390,000,000 (Monthly, 2022)
Average net salary	Ꝟ320,000,000 (Monthly, 2022)
Main industries	Environmental Engineering, Aerospace Engineering, Chemical Engineering, Business Services, Financial Services, Arms Manufacturing, Aquaculture, Food Processing, Tea Processing
Ease-of-doing-business rank	Xth (very easy, 2020)
External
Export goods	Environmental Technologies Fish Products Launch Vehicles Military Vehicles Tea Products
Main export partners	Tsurushima 25.75% FOAREKO 24.32% Onekawa-Nukanoa 8.05% Anachak Kang 7.50% Belfras 5.94%
Import goods	Alloys Chemicals Electronics Consumer Goods Foodstuffs
Main import partners	Anachak Kang 23.19% Tsurushima 21.40% FOAREKO 18.82% Onekawa-Nukanoa 18.37% Gristol-Serkonos 6.99%
All values, unless otherwise stated, are in US dollars.

Daobac embraces a free market economic system with minimum government intervention. Its total economy is valued at $351 billion, has the 12th highest GDP per capita in the world and is considered as a developed country with a high-income economy. The Daoan economy is generally regarded as free and business friendly due to its minimum trade barriers and tariffs. Its workforce pool is known to be stable and diverse, possessing both highly educated and skilled workers. The country is also known for its harsh policies towards corruption, low tax rates as well as its well maintained and advanced infrastructure. Due to these factors the country attracts large amounts of foreign investment. The country's wealth is well distributed between investing for more economic growth and provide public services to the population. The Bank of Daobac is the nation's central bank and manages Daobac's currency (Vang) and establishes its monetary policies. Daobac's economic sector is largely driven by the services sector and is well known for its expertise in the fields of engineering, financial and commercial launch services. The country is a pioneer in the field of environmental engineering, pioneering various breakthroughs in the development of what is categorized of green technologies to mitigate the effects of pollution from industrial and urban activities. Its primary focus is within the fields of wastewater treatment and air pollution control technologies. Daobac's aerospace engineering industry designs and manufactures both fighters and various launch vehicles built in collaboration with various partner countries such as Pulau Keramat and Kajera. The bulk of Daobac's financial institutions are comprised of investment and venture capital firms. The former largely invests in companies that specializes in the fields of environmental, chemical and aerospace engineerings whereas the latter provides seed funding to startup technology companies both domestic and abroad.