Economy of Daobac
 Central Business District of Congvat | |
| Currency | Vang (VNG, Ꝟ) |
|---|---|
| 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% |
 3.05% (2020) | |
Population below poverty line | 8.2% at risk of poverty or social exclusion (2020) |
| 0.911 | |
Labour force by occupation | Agriculture/Fisheries 12% Manufacturing 23% Services 75% |
| Unemployment |  4.7% |
Average gross salary | Ꝟ390,000,000 (Monthly, 2022) |
| Ꝟ320,000,000 (Monthly, 2022) | |
Main industries | Environmental Engineering, Aerospace Engineering, Chemical Engineering, Business Services, Financial Services, Arms Manufacturing, Aquaculture, Food Processing, Tea Processing |
| Xth (very easy, 2020) | |
| External | |
Export goods | |
Main export partners |
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Import goods | |
Main import partners |
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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. 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.
Though the government maintains a policy of little to no state intervention in the economy, it still plays an important role in the cultivation of various businesses throughout the country. Hoasen Holdings, a sovereign wealth fund, is a state-owned investment fund that holds both majority and minority stakes in various companies ranging from large publicly listed corporations to small and medium-sized enterprises. Daobac's economy largely revolves around four [[Wikipedia:Conglomerate (Company}|conglomerates]]: Tran Industries, Mach Group, Khuat Corp and Bao Enterprises. With a presence in almost every facet of the country, both in public & private, these four groups collectively control up to 73% of Daobac's economy and at times has been described as megacorporations. The export-led growth of Daobac's economy meant that the country is heavily dependent on the import of (preferably cheap) raw materials and then refining them to become a higher quality good to be exported abroad. Tsurushima is currently Daobac's largest import & export partner, although in the modern era the nation of Anachak Kang is expected to overtake Tsurushima in becoming Daobac's largest source of imports and exports within five and twenty years respectively.