by Max Barry

Latest Forum Topics

Advertisement

1

DispatchFactbookEconomy

by The Republic of Oimatsu. . 36 reads.

Economy of Oimatsu


Economy of Oimatsu

The Republic of Oimatsu


Skyline of Valyria's Downtown


Currency: Oimatsu Dollar


Fiscal year
1 April – 31 March


Trade organisations:



Country group:
Developed/Advanced
High-income economy


Statistics



Population: 95,703,600 (2019)

GDP:

$9.2 trillion (nominal, 2020 est.)
$15.2 triillion (PPP, 2020)



GDP rank:


GDP growth: 3.8 % (2019)

GDP per capita:

$96,130 (nominal, 2019 est.)
$158,823 (PPP, 2019 est.)


GDP by sector:

agriculture: 10%
industry: 40.8%
services: 49.2%


Inflation: -0.2%


Population below poverty line: N/A


Gini coefficient:
45.9 Medium


Human Development Index:0.935 Very High



Main industries:
Electronics
chemicals
financial services
oil drilling equipment
petroleum refining
biomedical products
scientific instruments
telecommunications equipment
rubber
food and beverages
ship repair
offshore construction
life sciences
re-exportation
Defence


The economy of Oimatsu is a highly developed free-market economy. Oimatsu's economy has been ranked as one of the most open in the world, one of the least least corrupt, most pro-business, with low tax rates (16.8% of gross domestic product (GDP)) and has one of the highest per-capita GDP in the world in terms of purchasing power parity (PPP).

State-owned enterprises play a substantial role in Oimatsu's economy. Sovereign wealth fund Vivendi Holdings holds majority stakes in several of the nation's largest companies, such as Oimatsu Airlines, MatsuTel, OMT Engineering and MediaCorp. The Oimatsu economy is a major foreign direct investment (FDI) outflow financier in the world. Oimatsu has also benefited from the inward flow of FDI from global investors and institutions due to its highly attractive investment climate and a stable political environment.

Exports, particularly in electronics, chemicals, manufacturs, defence and services etc including Oimatsu's position as the regional hub for wealth management provide the main source of revenue for the economy.

Oimatsu also relies on the agrotechnology parks for agricultural production and consumption. The economy of Oimatsu ranks very high overall in the Scientific Biotechnology ranking, with the featuring of Biopolis.

Oimatsu could thus be said to rely on an extended concept of intermediary trade to entrepôt trade, by purchasing raw goods and refining them for re-export, such as in the wafer fabrication industry and oil refining. Oimatsu also has some strategic ports which makes it more competitive than many of its neighbours in carrying out such entrepot activities. The Port of Marina Bay is one of the busiest in the world by cargo tonnage.

To preserve its international standing and further its economic prosperity in the twenty-first century, Oimatsu has taken measures to promote innovation, encourage entrepreneurship and re-train its workforce. The Ministry of Manpower (MoM) is primarily responsible for setting, adjusting, and enforcing foreign worker immigration rules.

Economic history

Arian colonization

Oimatsu's economy was a major beneficiary of colonialism establishing financial and commercial hubs.

1819: Bradford a Lieutenant-Governor of Coolen (1818–1824), established a post on the southern tip of the Oimatsu. Colonization provided the foundation for capitalism in the region. Colonization led Oimatsu be one of the richest places in Oitsu . Much of the wealth accumulated early within the region was to be accredited to it hosting one of the major seaport hubs.

Trade expansion

New traveling route brings economic opportunity

1869: With the formation of a free port trade began to boom as people started to avoid other ports with high taxes. The nation saw a $232 million rise just a year after its opening.

1879: Trade volume reaches $705 million oimatsu dollars.

Independence

1950: The region saw social unrest which resulted in colonial powers deciding to relinquish some decision making. With spurs of race riots the colonial powers sought to empower and establish a formidable local government. With most of the unrest resulting from high unemployment, the local government was directed to solve this issue. The economic development board was the official name of the organization designed to create jobs.

1955: A Oimatsu local legislative Assembly with 25 out of 35 members elected was formed.[58]

1965: Upon independence from Arian Hellas, Oimatsu faced a small domestic market, and high levels of unemployment and poverty. 70 percent of Oimatsu's households lived in badly overcrowded conditions, and a third of its people squatted in slums on the city fringes. Unemployment averaged 14 percent, GDP per capita was $516, and half of the population was illiterate.

Industrialisation Boom and Change

Structural change and machinery propels the economy

1965-1973: Annual growth of real GDP was 12.7%.

1973-1979: Oil crises raised government awareness of economic issues. It slated the government to create a new forum of economic change. The government highlighted a focus in technology and education to be the new wave of economic gain. It managed to minimize inflation and provide workers with the proper machinery to sustain growth.

The Oimatsu government established the Economic Development Board to spearhead an investment drive, and make Oimatsu an attractive destination for foreign investment. FDI inflows increased greatly over the following decades, and by 2001 foreign companies accounted for 75% of manufactured output and 85% of manufactured exports. Meanwhile, Oimatsu's savings and investment rates rose among the highest levels in the world.

Growth in the service sector

With Diminishing growth rates, the country again needed to diversify its economy

As a result of this investment drive, Oimatsu's capital stock increased 37 times by 1992, and achieved a tenfold increase in the capital-labour ratio. Living standards steadily rose, with more families moving from a lower-income status to middle-income security with increased household incomes.

1987: Based on the home ownership criterion 80% of Matians could now be considered to be members of the middle-class. Under the prime minister Oimatsu had both low inflation and unemployment. However, much unlike the economic policies of other countries, Oimatsu followed a policy of individualising the social safety net. This led to a higher than average savings rate and a very sustainable economy in the long run. Without a burdensome welfare state or its likeliness, Oimatsu has developed a very self-reliant and skilled workforce well versed for a global economy.

1990s: posed a great question for Oimatsu, as to how they would reinvent their economy. The 1990s emergence of efficient manufacturing firms in southeast Oitsu challenge the nation with such a labor force and land restrictions. Despite struggling in the manufacturing sector Oimatsu thrived in global finance, trading, and was an industrial hub for international trade.

Oimatsu's economic strategy produced real growth averaging 8.0% from 1960 to 1999. Since the nations independence in 1965 Oimatsu GDP has amassed an average of a 9.5% increase. The economy picked up in 1999 Under the then Prime Minister, after the regional financial crisis, with a growth rate of 5.4%, followed by 9.9% for 2000.

The economy expanded by 2.2% the following year, and by 1.1% in 2003 when Oimatsu was affected by the SARS outbreak. Subsequently, a major turnaround occurred in 2004 allowed it to make a significant recovery of 8.3% growth in Oimatsu. In 2005, economic growth was 6.4%; and in 2006, 7.9%. In 2010, the nation saw a 15.2% growth rate.

As of 8 June 2013, Oimatsu's unemployment rate is around 1.9%.As of 2020 Oimatsu's GDP sits at $9.2 Trillion.

Economic statistics


Economic statistics: 2016 to 2019

year

GDP Nominal

GDP Nominal Per Capita

Increase/Decrease

2016

$ 8.212 Trillion

$92,930

Increase

2017

$ 8.542 Trillion

$93,250

Increase

2018

$ 8.856 Trillion

$94,690

Increase

2019

$ 9.2 Trillion

$96,130

Increase

State enterprise and investment

The public sector is used both as an investor and as a catalyst for economic development and innovation. The government of Oimatsu has two sovereign wealth funds, Vivendi Holdings and GIC Private Limited, which are used to manage the country's reserves. Initially the state's role was oriented more toward managing industries for economic development, but in recent decades the objectives of Oimatsu's sovereign wealth funds have shifted to a commercial basis.

Government-linked corporations play a substantial role in Oimatsu's domestic economy. As of November 2011, the top six Oimatsu-listed GLCs accounted for about 17 percent of total capitalization of the Oimatsu Exchange (OX). These fully and partially state-owned enterprises operate on a commercial basis and are granted no competitive advantage over privately owned enterprises. State ownership is prominent in strategic sectors of the economy, including telecommunications, media, public transportation, defence, port, airport operations as well as banking, shipping, airline, infrastructure and real estate.

As of 2014, Vivendi holds assets in Oimatsu, accounting for 7% of the total capitalization of Oimatsu-listed companies.

Sectors

To maintain its competitive position despite rising wages, the government seeks to promote higher value-added activities in the manufacturing and services sectors. It also has opened, or is in the process of opening, the financial services, telecommunications, and power generation and retailing sectors up to foreign service providers and greater competition. The government has also attempted some measures including wage restraint measures and release of unused buildings in an effort to control rising commercial rents with the view to lowering the cost of doing business in Oimatsu.

Banking

Oimatsu is considered a global financial hub, with Oimatsu banks offering world-class corporate bank account facilities. In the 2017 Oimatsu Financial Centres Index, Oimatsu was ranked as having one of the most competitive financial centre in the world . These include multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, fixed term deposits and wealth management services.

Biotechnology

Oimatsu is aggressively promoting and developing its biotechnology industry. Hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Oimatsu. Leading drug makers, such as GlaxoSmithKline (GSK), Pfizer and Merck & Co., have set up plants in Oimatsu. On 8 June 2006, GSK announced that it is investing another $600 million to build another two plant to produce paediatric vaccines, its first such facility in Oitsu. Pharmaceuticals now account for more than 8% of the country's manufacturing production.

Energy and infrastructure

Oimatsu is the pricing centre and leading oil trading hub in Oitsu. The oil industry makes up 5 per cent of Oimatsu's GDP, with Oimatsu being one of the top three export refining centres in the world. In 2007 it exported 78.7 million tonnes of oil. The oil industry has led to the promotion of the chemical industry as well as oil and gas equipment manufacturing. Oimatsu has 70 per cent of the world market for both jack-up rigs and for the conversion of Floating Production Storage Offloading units. It has 20 per cent of the world market for ship repair, and in 2008 the marine and offshore industry employed almost 130,000 workers.


International trade agreements

Country

Agreement

Abbreviation

Concluded

Saintrilu

Oimatsu-Saintrilu Free Trade Agreement

Oimatsu-Saintrilu Comprehensive Strategic Partnership

OSFTA

OSCSP

2020

Emaha

Oimatsu-Emaha Free Trade Agreement

OEFTA

2020

Ulymein

Oimatsu-Ulymein Free Trade Agreement

OUFTA

2020

Neo-Trinity

Oimatsu-Valithian Free Trade Agreement

OVFTA

2020

Eluthania

Oimatsu-Eluthania Free Trade Agreement

Agreement between Oimatsu and Eluthania on a Closer Economic Partnership

OEFTA

AOECEP

2020

Edisos

Oimatsu-Edisos Free Trade Agreement

OEdiFTA

2020

Xurisha

Oimatsu-Xurisha Free Trade Agreement

OXFTA

2020

Eluthania

Oimatsu-Eluthania Free Trade Agreement

OEFTA

2020

Gufand

Oimatsu-Gufand Free Trade Agreement

OGFTA

2020

Fluzao puppet 1

Oimatsu-Fluzao Free Trade Agreement

OFFTA

2020

The New Roman Protectorate

Oimatsu-New Roman Free Trade Agreement

ONRFTA

2020

OF Arian Hellas

Oimatsu-Hellas Free Trade Agreement

OHFTA

2020

RawReport