Packilvania: Difference between revisions
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The government felt that Packilvania was losing ground in research and development and gradually began to transition the country from an export-oriented low-cost manufacturing hub to a consumption-led high-value added manufacturing and services hub. The country is gradually and steadily moving in this direction. Although raw materials, foodstuffs and fossil fuels as well as low cost manufactured and semi-manufactured goods continue to make up about half of export value, the exportation of higher value goods such as chemicals, pharmaceuticals, electronics, and industrial machinery have grown to make up the other half of exports.
In 2023, Packilvania has a [[w:GDP (nominal)|nominal GDP]] per capita of 10,700 KRB which was 9,500 [[Kirib|KRB]] in 2022. In 2023, Packilvania has a nominal GDP of 12.53 trillion [[Kirib|KRB]] which grew by 12% from 11.19 trillion KRB in 2022. {{As of|2022|12|31}}, Packilvania is the [[List of countries by GDP (nominal)|3rd largest economy]] in the world after [[Great Morstaybishlia]] and [[South Hills]]. The country is a developing nation that is characterised by the [[Auroran Monetary Fund]] as an emerging market and middle-income economy. It is the largest developing country by GDP in the world. It is the largest economy in the world by [[W:Purchase power parity|purchase power parity]] due to the low cost of comparable goods and services relative to wealthier foreign markets. The country has an investment grade sovereign credit rating of A1 from [[Preston & Cole]].
In 2023, unemployment rate is 12% down from 14%. The [[w:Labour participation|labor participation rate]] declined from 93% to 91% as more people between 18 and 15 remained in the education system instead of going to work. In Packilvania, people are allowed to work starting at the age of 15. In 2022, the government introduced laws that limited the types of jobs that people between the age of 15 and 18 could do. The country has increased the proportion of is population with a formal education by rates of 15% to 18% annually. When coupled with a hardworking and highly energetic and youthful population, the country is set to experience a substantial population dividend over the next 10 years.
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