Economy of Arkiasis: Difference between revisions

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Economy of Arkiasis
File:Algonquin1.jpg
Lower Aspatria City
CurrencyArkiasin Crown (₵/Cr) (ARC)
calendar year
Trade organisations
EC, OEN, NOSDO, WA and others
Statistics
GDP$4.716 trillion (nominal, 2014)
$4.068 trillion (PPP, 2014)
GDP growth
Decrease -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.)
Decrease 0.2% (2015 est.)
Population below poverty line
7.0% (2013)
29.0 (2013)
Labour force
50.968 million
Labour force by occupation
agriculture: 2.0%, industry: 27.5%, services: 70.5% (2012 est.)
Unemployment5.6% (July 2015)
Average gross salary
₵7,630 / $4,578 monthly
₵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
20th
External
Exports44%
Export goods
Aircraft, motor vehicles and parts, chemicals, ships, refined oil, natural gas, machinery and equipment, foodstuffs, agricultural products, pharmaceuticals
Main export partners
 Ainin
File:Britannoflag.png Britanno
 Luziyca
Template:Country data Lyonsland
File:Flag of Nevanmaa.png Nevanmaa
Template:Country data United Republics
Template:Country data Vestmark
File:Flagofvjaarland.png Vjaarland
File:Flag vyv.png Vyvland
Imports56%
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
File:Britannoflag.png Britanno
Template:Country data Lyonsland
 Namor
File:Flag of Nevanmaa.png Nevanmaa
Template:Country data Sjalhaven
File:Flagofvjaarland.png Vjaarland
File:Flag vyv.png Vyvland
Public finances
71.5% of GDP
Revenuesidk
Expensesa lot
Economic aiddonor: $27.7 billion (0.61% of GDP)
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%.

History

Republican Miracle (1902-1930)

Great Depression (1930-1940)

Post War Boom (1940-1970)

Lost Decade/80's recession (1980-1990)

Modern Day (1990-present)

Economic Regions

Natural Resources

Sectors

Primary

Agriculture

Industry

Automotive

Services

Banking

Infrastructure

Energy

Transport

Science and Technology