by Max Barry

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10

Economy of Polar Svalbard [WIP]

Overview

Economy of Polar Svalbard



Population: 30,350,563
GDPPC: 30,000 USD
GDP nominal: 913,551,946,300 USD
GNI: 1.5 Trillion USD

Unemployment: .8%
Inflation CPI: .5%
External Debt: ~60 Billion USD
Public Debt: ~455 Billion USD
Average debt per citizen: ~15,000 USD

Budget
TE: 220.5 Billion USD
TR: 221.3 Billion USD
Surplus: .8 Billion USD

Currency: The Svalbardian Dollar
HDI: 9.01

Financial Center: Alta
Largest Seaport: Frexnakia
Largest Airport: Alta International

The Svalbardian economy is broad and diverse, covering numerous industries and economic ventures, spanning the sectors of the economy. Considered a large economy for the Western Isles it contains a population of 30,350,563 people with a GDPPC of 30,100 USD totaling to a GDP nominal of 913,551,946,300 USD. The Gross National Income (GNI) though totals in at 1.5 Trillion USD.

Polar Svalbard has a rather balanced Import-Export Monetary Value with a fluctuating trade deficit or surplus depending on the year. Main exports in the Primary Sector come from Agriculture and Mining operations, while main exports in the Secondary Sector come from a broad range of industries spearheaded by industries such as Petroleum Products, Pharmaceuticals, Chemicals, and Robotic equipment. Overall due to this balance the Svalbardian Dollar is seen as a stable currency, currently sitting at 98 cents to the dollar.

The Economy of Polar Svalbard can be considered a Modified Market Economy. While there are restrictions on businesses, many of the more powerful ones who have connections to government are able to flout these restrictions in some cases with minimal effort. Consumerism is encouraged by the government, with entrepreneurs usually receiving tax incentives for starting businesses. Public Utilities are the only places one can find the government nationalizing businesses.

Sectors of Industry
Primary Sector
The Primary Sector is still alive and well in Polar Svalbard with large amounts of both minerals and agricultural products coming out of it. While less workers are being employed due to mechanization of the workforce, it still employs a high number of Svalbardians.

Name of Export

Export Percentage in group

Export Percent in Sector

Agricultural Goods

n/a

60%

Animal Products

45%

27%

Cattle Products

16%

4.32%

Chicken Products

8%

2.16%

Fishing

32%

8.64%

Goat Products

10%

2.7%

Pig Products

12%

3.24%

Sheep Products

16%

4.32%

Turkey Products

6%

1.62%

Plant Products

55%

33%

Apples

4%

1.32%

Asparagus

3%

.99%

Barley

8%

2.64%

Blueberries

4%

1.32%

Broccoli

3%

.99%

Carrots

4%

1.32%

Corn

10%

3.3%

Grapes

5%

1.65%

Lettuce

5%

1.65%

Mushrooms

3%

.99%

Onions

4%

1.32%

Pears

3%

.99%

Potatoes

14%

4.62%

Raspberries

3%

.99%

Strawberries

4%

1.32%

Sugar Beats

2%

.66%

Timber

7%

2.31%

Turnips

2%

.66%

Wheat

10%

3.3%

Peas

2%

.66%

Minerals and Metals

n/a

40%

Rare Earth Elements

10%

4%

Cerium

12%

.72%

Gadolinium

3%

.18%

Holmium

2%

.12%

Lanthanum

14%

.84%

Lutetium

4%

.24%

Neodymium

2%

.12%

Praseodymium

3%

.18%

Promethium

2%

.12%

Samarium

5%

.3%

Scandium

23%

1.38%

Terbium

2%

.12%

Thulium

4%

.24%

Ytterbium

7%

.42%

Yttrium

17%

1.02%

Metals and Minerals

90%

36%

Aluminum

12%

4.08%

Antimony

2%

.68%

Barium

2%

.68%

Beryllium

3%

1.02%

Bronze

4%

1.36%

Chromite

2%

.68%

Cobalt

4%

1.36%

Copper

6%

2.04%

Gallium

2%

.68%

Gold

1%

.34%

Indium

.5%

.17%

Iron/Steel

25%

8.5%

Lead

6%

2.04%

Lithium

3%

1.02%

Nickel

5%

1.7%

Platinum Group Metals

.5%

.17%

Silver

1%

.34%

Tin

4%

1.36%

Titanium

5%

1.7%

Tungsten

7%

2.38%

Uranium

5%

1.7%

Secondary Sector

The secondary sector of the Svalbardian economy contributes to a large portion of the economy. With numerous industries Polar Svalbard is still a large manufacturer. With industries such as Petroleum Refining, Pharmaceuticals, Chemicals, and robotics leading the way, it is no wonder that the Svalbardian economy is as strong as it is.

Name of Industry

Export Demand

Export Percentage

Aerospace Manufacturing

Low

Export Percentage

Arms Maunfacturing

Medium

Export Percentage

Automobile Manufacturing

Low - Medium

Export Percentage

Chemical Manufacturing

Medium

Export Percentage

Luxury Items

Medium

Export Percentage

Petroleum Refining (Oil, Fuel, Plastics)

High

Export Percentage

Pharmaceuticals

High

Export Percentage

Robotics

Medium

Export Percentage

Ship Building

Low

Export Percentage

Tertiary and Quaternary Sectors

As with any developed economy Polar Svalbard has a robust Tertiary and Quaternary Sector. With the valued consumerism, there is a large emphasis on stores, casinos, tourism, and in the Quaternary Sector there are large amounts of information technologies.

Governmental Budget

Report