|Economy of Istalia|
Terran Global Financial Center in Romula
|Rank||Top-3 (on 58)|
|Currency||£ Istalian Lira (LIS)|
|Trade organisations||Majatran Alliance and Common Economic Area|
Terran Association of Free Trade
International Majatran Trade Agreement
World Financial Trade Center
|GDP||£ 619,251,643,874 (4199)|
|GDP per capita||£ 6,214 LIS (4199) |
|Services, industry, agriculture|
|Main industries||Oil, natural gas, high-tech technology, financial services, intense machinery, automotive, aerospace, consumers goods|
|Export goods||Oil, natural gas, petrochemicals, processed rare-earth elements, financial services, high-tech technology, telecommunications, arms, food products|
|Main export partners||Solentia, Selucia, Dorvik, Zardugal, Kalopia-Wantuni, Hutori, Luthori|
|Import goods||Mineral raw materials, chemicals, consumer goods, semifinished products, wood, several fornitures|
|Main import partners||Baltusia, Malivia, Indrala, Cildania, Mordusia, Third Word Nations|
The Istalian Economy is a modern market economy and currently is one of the three major economy worldwide and the most developed in Majatra. It relies mainly on the tertiary sector and so on advanced services and worldwide trade, then on heavy industry and advanced technology and on oil and gas industry but developed are also the manufacturing and agricultural sectors. Istalia has economic relationships worldwide, with many of the most powerful nations but also with several emerging economies and exports primary services and high-tech products, oil and gas and an important role is representing also by the arms export. This large and highly advanced economy, which arise to the top of the world economy since the beginning fo the 42nd century, assures today to the Istalians one of highest standard of living on Terra.
Its internal GDP is divided as below:
- Primary sector: 3,9%
- Secondary sector: 31,2%
- Tertiary sector: 64,9%
For many centuries, at least under the Emirate of Quanzar, the economy of the istalian lands was based on the agri-food activities, mostly localized in Trivendito, in north Padagna and in Sarregna, exporting massively in the other eastern Majatran countries, benefing of the decisively more favorable condition of the climate and the environment compared with the neighboring countries.
With the establishment of the Union of Quanzari Soviets and the collectivisation of most part of economy, started an industrialization process which led to the establishment of a robust heavy industry and the expansion of other activities of the primary sector like the mining with the begining of the exploitation of the large salt reserves of the central desertic plains, but also of the reserve of silver, iron, zinc, gypsum, feldspar and potassium.
With the foundation of the Istalian Republic the old collectivized system was rapidely abandonend in favor of the market economy, however, the State continued to be present in the economy which evolved into a mixed economy with several state-owned companies in the key sector.
Istalian economy during the millenia more or less mainteined its charateristic, thanks to the stability of the four successive Republic (while the Quanzarian restored regimes never adopted widespread changes on the economic structure and system).
The landing of foreign companies into the stalian economy in the fourth millennia contributed to developed the istalian know how into secondary sector, for example thanks to the establishment of several industrial sites, like the one of the Kostandian Bay Maritime Corporation, a Zardic shipbuilt company. However, the competion with the foreign companies caused serious problems for the internal industry which for some time relied excessively on the foreign presence. In 37th century istalian companies beginning to grow and to take more space in the istalian economy and it is in this period that have been founded notable companies like Enist and Leonardi. At the end of 41st century, after the tragedy of the Civil War, thanks to a new more open international policies the Istalian economy became its growth which in less than a century will become one of the major worldwide. The 42nd century saw the expansion of giant multinational corporations outside the istalian markets and the growth interested particularly the third sector with holding, banks and assurance companies which expanded their activities landing and massively investing in foreign markets. At the end successive century the istalian economy became fully globalized housing large multinational conglomerates.
An enormous opportunity for the istalian economy in recent history was the massive penetration of companies and multinationals in Kalopia-Wantuni, a land without centralized government since the end of the 41st century, dominated by anarcho-capitalism and which saw istalian companies extend a quasi-governative control on many areas of the majatranan central nation, especially across the entire Mossavi region.
At the begining of 43rd century istalian economy has definitively taken its place as one of the biggest and most developed economy worldwide.
Agriculture, breeding and fishingEdit
Despite the agri-food sector in the third millennia starts to decrease its importance in the istalian economy, still today it maintains an important role for the istalian economy and it is foundamentally divided in intensive industrial agriculture and in smaller production of excellences. The lush plains on the Peninsula and on the Island are intensively exploited and produces all the typical cultivation of the Majatran area also if during the centuries spread also foreign cultivations like the rice, produced especially in Padagna along the shores of the river Risodor. Of the total surface area in agricultural use, grain fields take up 31%, olive tree orchards 9.2%, vineyards 7.4%, citrus orchards 5.8%, sugar beets 4.4%, and horticulture 4.7%. The remainder is primarily dedicated to pastures (25.9%) and feed grains (11.6%).The breeding is diffused mostly on the highlands of Padagna and Trivendito, in Mezzodiurno and in Silicia. Livestock includes 8 million head of cattle, 9.6 million head of swine, 7 million head of sheep, and 1.1 million head of goats. The total annual production of the fishing industry from capture and aquaculture, including crustaceans and molluscs, stood at 1040 tons. This high ammount of fish is due to the massive exploitation of the Perartic Ocean by part of the fishing industry with the Istalian fishing vessels which reach also the waters close to the antartic circle.
The mining sector formerly had a major role in the Istalian economy, with activities in the north of Mezzodiurno and south of Padagna, in the central desertic area of the nation where there are many salt, gypsum, feldspat and potassium mines, while silver, zinc and iron mines could be found in the north padagna and in Silicia (the biggest silver mines of Istalia was localized here).
The sector today, however, has greatly reduced its role, focusing by now on the extraction of feldspat and potassium, about which is a world's leading producers, while for most part of the row material it depends from the import, focusing then on the processing and manufacturing of these materials.
The oil and gas sector, instead, since the 41th century assumed a much greater role for the Istalian economy and today the extraction, refination and distribution of oil, and its derivates, and natural gas is probably the most important secondary industry in Istalia.
The first discovered and exploited oil fields are located in the north of the Sarrentina Peninsula, between Trivendito and Padagna at the foot of the northern mountain ranges, but the veritable heart of the oil industry of Istalia is located miles away south of Istalia, into the open Perartic Ocean, from which Istalia extracts also huge ammounts of natural gas.
The crude oil from the extraction sites for the refination reachs instead the several facilities on the Peninsula, the main of them located in Taranda, Genevia and first of all in Vinesia, where there is the largest one refinery and stock piles facilities of Enist.
Thanks to the intensive activities of the fields in the Perartic Ocean, not exploited by other countries, or at least not at all at the same level, Istalia, despite a costantly expanding internal demand, can export huge amounts of oil, oil derivates and, especially since the end of the 42th century, natural gas, making Istalia one of the major oil-exporting countries on Terra.
Istalia energetic sector, however, doesn't relies exclusively on the oil and natural gas, but Istalia has also high technologic knowledge in the nuclear energy as well as on the renewable ones. The national energy demands is satisfied mainly through gas and nuclear plants, but since the ban of fuel oil and coal as energetic resources for the electric production (first half of 42nd century), the renewable technologies greatly increased their presence.
Heavy and High-tech IndustryEdit
The secondary sector in Istalia is dominated by the heavy industry oriented on numerous productions, from the durable and consumer goods to the intense machinery, automotive, aerospace and naval Induatry. It is developed also the sector of the transformation of Raw Materials on which markets Istalia is a major producers and exporters of all oil derivatives and is a world's leading producers of processed rare-earth elements (mostly coming from Baltusia, one of the main partners of Istalia).
A major role has also the high-tech industry which produces electronic products, home appliance manufactures, informatic software and hardware, mobile phone and other high-tech products, leader of which is the company Oliverdi S.p.A.. Into the heavy industry, the leader corporations is the multinational giants Leonardi Industrial Group, followed by companies like Estal or Ajace Aeronautics.
Often forgotten, but more for political reasons, despite its importance, it is also the arms industry, on which market Istalia is a world's leading country, which produces any kind of armaments from the sidearms and the recognition drones to the armoured vehicles, fighter aircrafts and large war vessels. A well known firm of the sector is OTO Al-Mehara Armamenti. Leader of the processed food, instead, is Farilla, largely active also abroad, especially in the third world, where it owns thousands of squadre kilometers of cultivate terrains.
Along side the larger corporations, in Istalia is also developed a deep-seated manufacturing sector consisting of small or medium-size enterprises, often family-owned, of low technology but high craftsmanship, specialized in clothing, leather products, footwear, furniture, textiles, machine tools, spare parts, appliances, and jewellery. This has produced a manufacturing sector often focused on the export of niche market and luxury products, that on one side is less capable of competing on quantity, but on the other side is more capable of facing the competition from emerging economies based on lower labor costs, with higher quality products.
Services and FinancialEdit
Since the end of the 41st century the tertiary in Istalia experienced the most rapid growth with many investment groups, holdings, banks and other financial companies expanding their services in Istalia as well as abroad.
In the first half of the 42nd century arose one of the most important company of this sector, the Umana Servizi S.p.A, a 'Global Multi-utility' that offers also financial, assurance and private social services, controlled by the biggest istalian holding, Hasan Grand Holding S.p.A., today one of the larger holding corporations worldwide, detaining important shareholdings or controlling many national companies, especially in the financial sector, and also numerous foreign industrial and financial groups and companies.
The most important national Stock Exchanges is the Milona Stock Exchange (Istalian: Borsa di Milona), making the capital of Padagna the financial center of Istalia. However, since Istalia became one of the major economy worldwide and the most important financial center of Majatra, arose in prominance and importance the Romula International Stock Exchange, located in the well known Terran Global Financial Center.
Since the second half of 44th century two institution established by the Government contributed to the further development of the istalian economic system and financial importance: the Deposits and Consignments Fund and the Istalian Strategic Investment Fund. The former was established as veritable state investment bank to loan money to the State as well as to the local governments but, probably most important, to support the most strategic industries as well as new businesses and start up and cultural and scientific institutions. To persue its goals the Fund use as first resource the postal savings of the Istalian National Postal Service. The Strategic Fund, instead, was established by the Government to be a Sovereign wealth fund, in the form of an investment company aimed to invest the Government's budgetary surplus and the foreign exchange reserves of the Bank of Istalia to, as specified in the establishing law, save for the future, to strengthen the economy, and to improve the quality of life of Istalians. The Strategic Fund persues its goals investing in profitable projects that generate income and in the long term. The Strategic Fund is authorized to create and manage a portfolio composed of real and financial assets such as stocks, bonds, real estate, precious metals, private equity fund or hedge funds. The Strategic Fund is aimed to invest in the most important global companies, with special interest for the Majatran markets, so to become one of the most important economic actor of the world.
Telecommunications, Broadcasting and EntertainmentEdit
Istalian houses large telecommunication and entertainment industries, higly advanced, charaterized by a deep integration between the traditional entertainment devices and the web potentialities. The companies of this sector have a veritable calling for the international markets, offering products of quality like international tv series and web content. Major entertainment corporation in this sector is the TerraMedia, giant broadcasting, entertainment and news conglomerate, present in all the nations of Terra, heavily diffused particularly in Artania, and the largest broadcasting network on Majatra.
About the telecommunication industry, Istalia present one of the most developed internet networks as well as many providers of phone and internet services and among them the largest corporations also in the phone services industry is without dubt Istelecom, which is a major actor also in many foreign countries, especially in Majatra.
Istalia can boast one of the largest civil fleet of Terra, consisting of thousands of vessels from the smaller fishing vessels to the enormous tankers and containers ships of Hasan Aeductus World Shipping, one of the main controlled corporations of Hasan-Mariani, established at the end of the 42nd century when Hasan World Shipping merges with the Selucian Aeductus Inter Shipping to create what is today one of the larger shipping company of the world.
Furthermore the extension of the Port of Triesta in the first decades of the 43rd century, as part of the measures to support the economy facing the greatest economic crisis of history, allowed to Istalia to host the largest port hub of the eastern Majatra and so to become the veritable eastern continental door, if not the main one of Majatra.
Istalia has very extensive networks of highways and motorways, either on the Peninsula and on the Island, which collegue effectively the main cities as well as the countryside. The only large area in Istalia where there isn't roads, a part dirt-tracks, is the Pheykran Basin, due to the presence of the almost unhabitated homonymous desert. But Istalia can boast also an higly developed high speed rail network operated by several private companies. The Istalian transport networks is higly integrated into the Majatran one, due to the fact that at the end of the 41st century Istalia was the promoter of the Trans-Majatran Corridors Network, a continental project which increased drammatically the trade and the voyages across Majatra.
Developed are also the railways and especially the high-speed networks connecting fastly the major cities. The railways industries currently is totally managed by private TOCs, national as well as regional, but the market is dominated by few large comapnies, among them NTI - Nuovo Trasporto Istaliano and Alaria Trasporti Integrati. Both of them offer international connections, not only from and to Istalia, but also in other countries, having profited also the competitors in this market of the railways integration promoted by the mentioned Trans-Majatran Networks.
Istalia houses also important airlines like IstalAir and MajAir, the former the unofficial flagship airline of Istalia (it is not a state company) which connect the country worldwide and the latter a recently created low-cost branch dedicated specifically to the low and medium range transport across Majatra.
Very important is also the touristic sector, being able to offer to visitors from around the world natural beauty like the temperate rainforests of the south, the beautiful beaches of Alaria, heavily heated in summer also by the hot current from the north as well as the eastern coasts of the Peninsula.
Istalia can also boast a huge cultural offer with many archaeological sites like Qolshamih, Tuffad or the many remains of the ancient selucian colonies, then the historical cities rich of the testimonials of the age-old history of the country where the tourists can also enjoy a lot of museums and artistic spaces of any kind.