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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The country has produced some of the largest companies in the world and is home to leading global centres. [[Bingol]] is an [[International Financial Centres Index|alpha international financial centre]] while [[Kemer]] is a [[International Technology Centres Index|major global tech hub]]. This is usually because industries are highly consolidated under a oligopoly. The largest four [[Banking in Packilvania|banks in the country]] (of which the top three are globally [[Systemically important financial institution|systemically important financial institutions]]) are the [[Industrial and Commercial Bank of Packilvania]] (the largest bank in the world by total assets under management), [[Agricultural Bank of Packilvania]], the [[Export-Import Bank of Packilvania]] and the [[Packilvanian Development Bank]]. The country is also home to arguably the largest energy company in the world, the [[Packilvanian Coal and Gas Corporation]], and one of the largest engineering firms in the world, the [[Packilvanian Steel and Construction Corporation]]. Other than these predominantly state-owned entities, there are large private companies such as [[Chatter]] (one of the largest mobile communications companies), [[Buddy]] (one of the largest taxi hailing and food delivery applications), [[Debby]] (one of the largest mobile payment companies), [[Masul Pharmaceuticals]], [[Telesat|Telesat Telecommunications]], and [[Teigo|Teigo Business Management and Logistics]].
The country's largest sources of imports and exports are the [[United Nations of the Auroran Continent]] (especially [[Great Morstaybishlia]]), [[League of Novaris]], [[
The country has maintained a substantial trade surplus over the past 30 years compared to its trade partners as such it has raised over 2 trillion KRB of [[W:Foreign exchange reserves|foreign exchange and gold reserves]]. Coupled with the [[Packilvanian Central Bank]]'s [[W:Managed float exchange rate|control over the exchange rate]] of the national legal tender, [[Packilvanian dinar]] ([[Reserve currency|a beta world reserve currency]]), and control of capital movement, Packilvania has achieved monetary independence. The government struggles with tax collection and relies on substantial borrowing as such the country has over 7 trillion KRB in public debt and over 5 trillion KRB in private debt, over 80% of which is owed to domestic lenders. The country attracts 500 billion KRB of foreign direct investment annually and it in turn invests over 400 billion KRB abroad.
===Infrastructure and energy===
Infrastructure in Packilvania is administered largely by the [[Administrative divisions of Packilvania|provincial and local governments]] under the national government via the Ministers of Housing and Urban Development, Mining and Energy, and Transport in the [[Council of Ministers of Packilvania]]. When the [[Bedonite dynasty]] took over from the [[Packilvanian Communist Party]] they continued and amplified the reliance on infrastructure and real estate expenditure to encourage economic growth.
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This spending has been a crucial driver of the high rate of economic growth that the country has seen in the past 30 or so years. Unfortunately, most of that spending has been fuelled by heavy debt, and projects are often directed by political interests and susceptible to corruption. Nevertheless, by adopting and scaling prefabrication and leveraging their skilled low cost labour, the country has experienced arguably the largest construction boom in the history of [[Urth]].
The country has approximately 1.5 million km of roads, of which approximately 890,000 are paved and 340,000 consist of highways, for which the signage conforms to the [[Nuvrenon Convention]]. Road infrastructure is heavily concentrated in urban areas and is often the primary means of transport for mid-distance travel for low-income citizens and for trucked goods. The country has over 100,000 km of rail networks, of which 70,000 km are electrified and 25,000 km consists of high-speed rail with a magnetic levitation line connecting [[Bingol]] and [[Kemer]] (one of the longest in the world).
The country has over 500 civilian airports serving over 40 Airlines of which the three largest (Air Pax, Sultan and Imperial Airlines) are members of the [[Vindens Pust Airline Alliance]]. The largest airport is the Sultan [[Amhoud I]] International Airport (also known as the [[Bingol International Airport]]) in [[Bingol]] which handles 30 million passengers followed by the Sultan [[Amhoud II]] International Airport in [[Kemer]]. The largest container port is the Port of Bingol which handles over 200 million metric tonnes of cargo annually. The country benefits from large navigable waterways specifically the [[Ufrata River|Ufrata]], Meked and Jumhur Rivers on whose banks many cities and inland ports have been built.
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