Economy of New Englia

UNDER CONSTRUCTION

=Economy= The economy of New Englia is in the process of expanding and had experienced a period of economic growth from 2880-2893. Even with a 13 year period of growth, New Englia is still officially listed as a Developing Nation because a majority of the rural areas lack sufficient healthcare, education and other services. A weak national economy also contributes, but it's developing albeit at a slow pace. Still, the poeple of New Englia enjoy a high level of living as the average income was measured at 48,220 FRX. The unemployment index in the nation is 6.5%. The Eastern Dovani Exchange (EDEX-100) opened in November 2787 and is the first & only stcok exchange in the nation. It is becoming a rising player in the economy of Dovani and in New Englia. New Englia has experienced only one recession and that was the Recession of 2840 which lasted for 12 years from 2840 to 2852. During those years, the country's unemployment rate peaked at 9.4% and the nation's commercial sector suffered when companies left the nation.

Natural Resources
New Englia is rich in mineral resources, especially coal, iron, natural gas, aluminim, oil & tin. Kirlawan companies have a considerable presence, and the coastal plain is becoming heavily industrialised. DPI (Dovani Petroluem Incorporated), Fisk Southern and Rising Sun Petroleum have become considerable forces in the New Englian oil exploration game by setting up their headquarters in the nation. Long term plan call for the construction of a natural gas and oil pipelines to transfer them to various ports on western Dovani and supply the Eastern Territories and the rest of Dovani. The foothills of the Rift Mountains are also well known for their rich soil, which makes the growing of coffee, chocolate and other cash crops profitable.

Commerce
New Englia is also a point of trade between Dovani and Artania. Food and raw materials from Eastern Dovani are exported along with New Englian products, and consumer goods are imported. The nation has been interested in joining various free trade agreements to stimulate economic growth. The creation of the Englia Space Organization (ESO) created jobs and brought manufacturing back to the nation due to the construction of the Space Shuttle. It also marked the return of many Defense Contractors such as X-1 Aerospace and Lockler Marian. Cities such as New Indrala and Plymouth ahve become financial centers and the home of several banks such as Bank of New Englia and Southern Union.

=Links= New Englia