Economy of Ovandera

The economy of Ovandera is a self-managing socialist economy reliant primarily on agriculture. Historically plagued with fragility, the modern Ovan economy suffers greatly from a recent loss of skilled laborers, post-war brain-drain, and a lack of integration with the global market economy leading to a little foreign trade or investment. The country enjoys a vast agricultural capacity, however, while benefitting greatly from an increase in inter-community stability and education standards in recent years. By rough estimate only 30% of communities in Ovandera actually use and accept the national currency, the other estimated 60% depending on the work of distributive committees and the countries growing gift economy for access to goods and services.

Ovandera's ability to incorporate foreign investment is limited, with few of the countries Canton's allowing for foreign involvement in local economies at all. The nation as of late has begun turning toward renewable energy, primarily hydropower, to fulfill its energy demands spurring from a lack of national spending power on oil importation. The country depends primarily on the export of cereals, fruits, as well as meat & dairy products in order to maintain its foreign spending power, but also has a size-able mining industry taking advantage of wide mineral deposits in the countries interior.

History of Economic Institutions

Main article: Economic History of Ovandera

See also: History of Ovandera and Precolonial Ovan Peninsular Cultures