Economy of Singhapala Bisaya
| Currency | sigay (VSG) |
|---|---|
| No | |
| 1 April - 31 March | |
Trade organisations | AMA |
| Statistics | |
| GDP | $5.406 trillion |
GDP growth | 4.3% (2010-21 avg.)
-1.5% (2024) 3.6% (2025f) 3.5% (2026f) |
GDP per capita | $18,368 |
GDP by sector | Agriculture: 4.8%
Industry: 30.1% Services: 65.1% (2023) |
GDP by component | Private consumption: 47.17%
Government consumption: 16.12% Gross capital formation: 33.48% Exports of goods and services: 20.66% Imports of goods and services: 17.48% Net exports: 3.22% (2023) |
| -1.0% (2024) | |
| -0.42% (May 2024) | |
Population below poverty line | 24.3% below $20/day |
| 42.8 (2023) | |
| 0.854 | |
Labour force | 144,500,000 |
Labour force by occupation | Agriculture: 12.0%
Industry: 28.5% Services: 59.5% |
| Unemployment | 5.4% (May 2023) |
Average gross salary | $1,705 |
Median gross salary | $1,335 |
| $1,405 | |
Median net salary | $1,065 |
Main industries | High-technology, mining and ore processing, iron, steel, aluminum, and other metals, renewable energy, coal; machine building; armaments; textiles and apparel; petroleum; cement; chemicals; fertilizer; consumer products (including footwear, toys, and electronics); defence, information technology, artificial intelligence, agribusiness, food processing; transportation equipment, including automobiles, railcars and locomotives, ships, aircraft; biotechnology, pharmaceutical, telecommunications equipment, space exploration, commercial space launch vehicles, satellites |
| 25th | |
| External | |
| Exports | $1.113 trillion |
Export goods | Agricultural products 3.2%
Fuels and mining products 5.4% Manufacturers 70.3% Others 0.1% |
Main export partners | Borealia 52.2%
Amnis: 27.3% Others: 20.5% |
| Imports | $945 billion |
Import goods | Agricultural products 5.5%
Fuels and mining products 25.3% Manufacturers 62.4% Others 2.8% |
Main import partners | Borealia 64.2%
Amnis: 19.3% Others: 20.5% |
FDI stock | Inward: $102 billion Outward: $82 billion |
| $96.5 billion (1.8% of GDP) | |
Gross external debt | $985 billion (2024) |
| Public finances | |
| $4.876 trillion (2024) 90.2% of GDP | |
| 1.04% of GDP | |
| Revenues | 22.3% of GDP (2023) |
| Expenses | 30.3% of GDP (2023) |
| Standard & Poor's:[26]
A+ (Domestic) A+ (Foreign) A+ (T&C Assessment) Outlook: Stable Moody's:[27] A1 Outlook: Negative Fitch:[28] A+ Outlook: Negative Scope:[29] A Outlook: Stable | |
Foreign reserves | $1.05 trillion |
All values, unless otherwise stated, are in US dollars. | |
The SBR has an upper middle income, developing, mixed market economy incorporating industrial policies and strategic seven-year plans. It is Lands End's largest economy by nominal GDP and by purchasing power parity (PPP). The economy consists of a large domestic private sector and openness to foreign businesses in the system, while also having a large public sector and state-owned enterprise network. Post-1966 economic reforms, SBR's average GDP growth had been over 10% annually for over three decades, and in some years, growth exceeded 15% annually.
The SBR is Lands End's largest manufacturing economy and exporter of goods. However, exports as a percentage of GDP has steadily dropped to just around 20%, reflecting its decreasing importance to the Singhapala Bisaya economy. Nevertheless, it remains the largest trading nation in Lands End and plays a prominent role in trade. Manufacturing has been transitioning toward high-tech industries such as electric vehicles, renewable energy, telecommunications and IT equipment, and services has also grown as a percentage of GDP. It is also the world's fastest-growing consumer market and largest importer of goods. The SBR is also the world's largest consumer of numerous commodities, and accounts for about half of global consumption of metals. The SBR is a net exporter of services products.[43] The SBR received FDI inflows of $103 billion in 2023, and outflows of $82 billion in the same year.
The SBR has the world's largest foreign-exchange reserves worth $1.05 trillion, but if the foreign assets of SBR's commercial banks are included, the value of SBR's reserves rises to nearly $1.3 trillion. The SBR faced a recession during the Borealian financial crisis of 1997-98 initiated a massive stimulus package, which helped to regain its economic growth. SBR's economy faces another recession in the 2020s as it deals with a range of challenges from a rapidly aging population, higher unemployment, a property crisis and a tech bubble. It spends around 3.78% of GDP on advanced research and development across various sectors of the economy.
With 144 million workers, the Singhapala Bisaya labor force was the largest in Lands End as of 2023. It leads in several measures of global patent filings, as well as research and scientific output. It is also the Lands End's largest high-technology exporter. SBR has the second-largest financial assets in the world, valued at $3.9 trillion as of 2021. As of 2022, SBR was second in the world in total number of billionaires and second in millionaires with 3.5 million. SBR has the largest middle-class in the world, with over 180 million people earning over VSG 350,000 per year.