Economy of Adammia

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Economy of the Empire of Adammia
WhiteGoldPalace.jpg
White Gold Palace in Imperial City, home of Adammia's biggest company, Capital Brewery
Currency Pound sterling (GBP)
Fiscal year 1 October - 30 September
Statistics
GDP £118.95 (FY 2015-16)
GDP growth -6.06% (FY 2015-16)
GDP per capita £4.58 (FY 2015-16)
GDP by sector Public: £58.53 (49.2%)
Private: £60.37 (50.8%) (FY 2015-16)
Inflation 0%
Population
below poverty line
0%
Labour force 24
Labour force
by occupation
Government: 58%
Diplomacy: 17%
Armed forces: 33%
Police force: 21%
Business executives: 8%
(Note that some individuals work in multiple occupations)
Unemployment 20.83% (as of October 2016)
Average gross salary £0
Median gross salary £0
Average net salary £0
Median net salary £0
Main industries Plums, pears, peaches, wines, beers, eggs, media, software, flags, computer repair
External
Exports £44 (FY 2015-16)
Export goods Media (videos), computer coding services
Main export partners Flag of the United States.png United States
Imports Approx. £70,000
Import goods Foods, utilities, fuel, household goods and appliances, clothing
Main import partners UKFLAG.png United Kingdom
FDI stock £0
Current account Approx. -£70,000
Public finances
Public debt -£85.00 (FY 2015-16)
Budget deficit -£17.22 (FY 2015-16)
-14.5% of GDP (FY 2015-16)
Revenues £61.22 (FY 2015-16)
Expenses £44 (FY 2015-16)
Economic aid £0
All values, unless otherwise stated, are in GBP

The economy of the Empire of Adammia is largely undeveloped and small. There are currently very few regulations on the Adammic economy and only several businesses operate there. It is split fairly evenly between the public and private sectors. On the Economic Potential Index, Adammia's economy scores 2.5.

Economic activity

Adammic Express and Imperial Mail stamps, paid for with British coins.

Primoria

Activity in Primoria is limited to the service sector. YouTube videos created by the channel operated by AB Animation Ltd. are made in Primoria and generate advertising revenue which contributed £20 to the GDP in 2014. Top Hat Software also has its headquarters in Primoria but is currently inactive, though it reportedly intends to begin developing software and video games at some point in 2016. The Adammic Express, Adammic Online Broadcasting and Imperial Mail all have their headquarters in Primoria. A second YouTube channel, JakeACake, is operated from Primoria, but it is not a registered company and is not monetised.

Tytannia

One of two agricultural powerhouses in the Empire, the capital province of Tytannia has a pear tree, a plum tree and a peach tree, which bear harvests of varying size in recent years. These and other resources imported from the UK are used to make wine, a key industry in Tytannia. However, the products are all given away for free, with only the wine produced by Capital Brewery Ltd. attracting voluntary donations of only a tiny fraction of the wine's actual value. Still, through this the brewery contributed £16 to the GDP in 2014.

Maternia

Maternia is mostly an economic dead zone, but rarely products such as scones and rock buns are baked there, showing a potential confectionary industry. However, these products are yet to be monetised.

Watertopia

The only product that comes from Watertopia is YouTube video entertainment, like Primoria. The channel Mattys Gaming, owned by Major Matthew Foster, creates these videos, but they earn no money.

Myway

Myway is similar to Tytannia as an agricultural centre. Peach trees growing there were recently found to have died, however there are also apple trees and also, most notably, a chicken coop containing several chickens, providing Myway with its egg industry. Currently, none of Myway's industries are monetised, so they do not contribute to the Adammic GDP.

Other

The territorial claims of the Jagstonian Plains and the colonies of Dearneland, Kappania, and Burghlia have no discernible economic activity. The colony of El Grandens is home to the Adammic music industry in the form of Sir Cavan Garfield's musical persona Succ, though it is not known if this generates any income.

Full breakdown

AdammicEconomy2016.png

Trade

Exports

While there are several industries operating in Adammia, most of them do not export their products, and those that do are usually given away for free. Only the media industry, with its partnered YouTube channels, brings money into the Empire through advertising revenue.

Imports

The Empire is almost completely dependent on the United Kingdom for resources and goods. Most food, utilities, fuel, clothing and general goods are imported. These are paid for with money earned through employment in the UK, meaning that the entire economy of Adammia depends on that of the UK.

In March 2014, Adammia imported a product from another micronation for the first time. This was the Adammic Coat of Arms which was created by a citizen of the Ashukov Federation.

Public finance

Public finance in the Empire is overseen by the Ministry of Finance, which operates His Majesty's Imperial Treasury in Tytannia province. Income comes from voluntary contributions as part of the Contributions Scheme, where adult full citizens living within a certain radius of the Adammic provinces pay a voluntary fee to the Treasury once per month, along with income taxes from Adammia's registered companies. The contributions fee is currently set at £0.50 per month, and the income tax rate is 20%. The MoF usually allows money to build up over several months before allocating it for spending. This has included the purchase of the web domain empireofadammia.org.uk, the frame of the Populus Imperium monument, and a RC quadcopter for the Adammic Air Force. The Empire has no public debt.

Companies

All companies in Adammia are registered to the Companies Register, managed by the Imperial Companies Agency. Below is a list of private companies:

The current government-owned companies are:

See also

Empire of Adammia