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Dispatch → Factbook → Economy
Economy of Polar Svalbard [WIP]
OverviewPopulation: 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
