Economy of Andany

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Flag Map of Andany.png This article relates to the Principality of Andany. CoA Andany.png
Economy of Principality of Andany
Currency Andanian Regal (REG)
Fiscal year 2018
Statistics
GDP §1,800
GDP per capita §600
Inflation 1%
Population
below poverty line
0%
Unemployment 0%
External
Main export partners Italy
Public finances
Public debt $0
Revenues §3,600 (yearly)
All values, unless otherwise stated, are in Andanian Regal


The first postage stamp issued in Andany

Andany's currency is the Regal. The Andanian government solely uses the gold standard as the monetary system in Andany. The current exchange rate of §1 Regal is equilvaelnt to 4 ounces of Andanian silver. Cotton is used to make the banknotes for Andany. They are produced by the Bank of Andany, from which Regal coins made from silver and printed banknotes are redistributed. The Bank of Andany issues Regal banknotes in accordance with the principles and rules established within the Andanian Economical System and controls all the currency in circulation in Italy. As part of the Andanian Economical System, the Bank of Andany produces the quantity of Regal banknotes assigned to it, puts them into circulation, withdraws worn notes, takes part in the search for and experimentation of new security features and contributes to the definition of common standards for the quality of the notes in circulation and the fight against counterfeiting. Andany has a capitalist mixed economy which is fueled by funding, donations, and high productivity. According to the Bank of Andany, the Andanian GDP of §1,800 REG ($3,600 USD) constitutes 4% of the gross micronational product at market exchange rates and over 3% of the gross micronational product at purchasing power parity (PPP). The nominal GDP of Andany is estimated to be §1,800 REG as of 2018. The Andanian Regal is the Andany’s only reserve currency. The Andanian economy is also one of the fastest developing micronational economic countries in Europe. Andany is also considred one of the largest micronational importer of goods and is also considered the second-largest micronational exporter by Andanian citizens, and exports per capita are relatively high. In 2017, the total Andanian trade deficit was §200 REG. Italy is the largest importer and exporter in Andany, with trades to and from Italy happening 90% of the time trading happens. In 2017, food was the largest import commodity, while turbines were the country's largest export. In 2017, the private sector was estimated to constitute 82.4% of the economy, with federal government activity accounting for 8.6% and state and local government activity (including federal transfers) the remaining 9%. The number of employees at all levels of government outnumber those in manufacturing by 3 to 1. While its economy has reached a postindustrial level of development and its service sector constitutes 32.8%% of GDP, Andany remains an agricultural power. The leading business field by gross business receipts is wholesale and retail trade; by net income it is manufacturing.

Wind products are the leading manufacturing field. Andany is also considered one of the largest micronational producers of wind energy in the micronational world by the main company building the wind products, as well as its second-largest importer. It is the world's number one micronational producer of wind, solar, and wave energy, as well as granite. The Andanian Mining Association provides data pertaining to coal and minerals that include neodymium, gold, zinc, granite, and others. Agriculture accounts for just under 16% of the GDP, yet Andany is the world's top micronational producer of corn and wheat. The Andanian Agricultural Statistics Service maintains agricultural statistics for products that include peanuts, pine wood, indigo, wheat, hibiscus seeds, cotton, corn, hay, and sunflowers. In addition, the Andanian Department of Agriculture (ADA) provides livestock statistics regarding beef, poultry, pork, and dairy products. The country is the primary developer and grower of ungenetically modified food, representing a small portion of the micronational world’s biotech crops. Consumer spending comprises 75% of the Andanian economy in 2017. In December 2017, the Andanian labor force consisted of 6 people. With all employed, government is the leading field of employment. The largest private employment sector is health care and social assistance, with 2 people. About 10% of workers are unionized, compared to 30% in Western Europe. The Bank of Andany ranks Andany first in the micronational ease of hiring and last in firing workers. Andany is ranked among the top in the micronational development as well. It has a smaller welfare state and redistributes less income through government action than European micro and macronations tend to. The Principality of Andany is also an advanced economy that guarantees its workers paid vacation and allows paid family leave as a legal right. While federal law does not require sick leave, it is a common benefit for government workers and full-time employees at corporations. All full-time Andanian workers get paid sick leave, according to the Andanian Bureau of Labor Statistics, although only 20% of part-time workers get the same benefits. In 2017, Andany had a high workforce productivity per person in the micronational world. It was also high in productivity per hour. There is currently no poverty in Andany, and inflation is at a high of 1%.