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Economy of Ebenthal
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|Economy of Ebenthal|
|Fixed exchange rates||Δ1 = R$0,0082 (pyrite standart)|
|Fiscal year||Calendar year|
|GDP growth||▼-0.26% (2020, real)|
▲3.27% (2020, nominal)
|GDP per capita||Δ2,396 (2020)|
|GDP by sector||Services: 45%; Agriculture: 40%; Industry: 15% (est. Aug 2020)|
|Labour force||75 (est. Aug 2020)|
|Average net salary||Δ$55 (est. Aug 2020)|
|Main industries||Food processing, construction, telecommunications|
|Export goods||Fruits and vegetables, cereals, meat, manufactured products, luxury goods|
|Main export partners|| Brazil 55%|
United States 25%
European Union 10%
|Import goods||Machinery and equipment, computational technology, textiles and footwear, chemicals, agricultural products, natural gas, minerals and fuels|
|Main import partners|| Brazil 98%|
|Public debt||0% of GDP (2020)|
|Budget deficit||0.2% of GDP (2020)|
|Foreign reserves||R$410 (Ebenthali Royal Treasury only)|
|All values, unless otherwise stated, are in|
The Economy of Ebenthal is a micronationaly developed and weakly-regulated mixed economy. Ebenthal's 2020 nominal GDP was Δ275,600 or R$3,360 with a per capita GDP of Δ2,396 or R$29 per inhabitant. The country had an estimated gross value added, this means, the ammounted sum of all lands and properties value of R$5,182 million roughly (US$ 2 million).
Ebenthal's micronational economy relies mostly on services, autonomous microentrepreneurship and farming cooperatives. Ebenthali liberal policy and culture reflects on the economy, whereas it suffers the minimum state interference, except on state-owned companies which act in sectors deemed crucial for state monopoly. Moreover, the Ebenthali economic system works with a very low rate of bureaucracy. Ebenthal's economic and cultural norms are based on a principle of balance between the individual, the source of income and the state. There are no formal trade unions in Ebenthal, but workers' rights are constitutionally safeguarded, as well as the principle of workers' self-management.
Ebenthal's public services such as healthcare, education, and public transportation are provided through the unilateral outsorcing of Brazilian-runned public services, either from public or private sectors, and does not fulfill any profitable objective for Ebenthal. There is a special system for the maintenance of an Ebenthali healthcare system: the state provides private health insurance in Brazil to it's citizens. Security is the only public service entirely provided by the Ebenthali state through the hiring of armed militias and their legal incorporation into the Armed Forces of Ebenthal.
As of 2020 there are no actual taxes in Ebenthal. The country relies on it's citizens contributions to the public services, on profit from the state-owned enterprises and on intermicronational commerce, specially between the Conference of Santiago, in order to gain revenue. Part of the revenue provided through contributions from the country's many economic sectors is paid to the government in Brazilian Reais and directed to the reserve Royal Ebenthali Treasure where it is kept and can be converted into Doubloon through the pyrite standart in case of the need to issue more money. Currently the economy relies on 27kg of pyrite.
The service sector is the largest component of the gross domestic product (GDP) at 45.0 percent, immediatly followed by the agricultural sector at 40.0 percent. Industry represents 15.0 percent of GDP (2020). The Ebenthali labor force is estimated at 75 out of 115 citizens living in the country.
Since before independence, the service sector has been present-day Ebenthal's flagship. From 2014 to 2020 the country's population grew more than a hundred percent and, on spite of the service sector loss of space, it remained the country's principal source of revenue.
The sector is divided into autonomous companies owned by Ebenthalis providing services, which represents 20% to 30% of the sector, and services rendered to different companies, all of which are foreign (either Brazilian, American, Japanese, Chinese or European). On the rendered services matter, the the main areas of expertise are in the administration, law, education, tourism and selling sectors.
As Ebenthal has no taxes, the revenue from the service sector comes in form of willing donations from the unorganized workers, as the country also lacks trade unions, towards the government. Contributions have always came in form of Brazilian Real. So far the current sovereign, Arthur II, has been the largest contributor to the micronational economy through a single contribution of all his 27kg pyrite stock, inherited from the late Princess of Triunphus, to the Royal Ebenthali Treasure, literally funding the country's economy.
The agriculture contributed to Ebenthal's source of revenue almost as much as the service sector which is clearly exemplified by the fact that most of the Ebenthali territory is made of farms.
Ebenthali farms are producers of wheat, corn, manioc, beans and apples, mostly. As for the cattle raising, most are swine, which is produced in relatively large scale for sales of derivative products such as sausage at local fairs. Chickens are raised and sold to local slaughterhouses and bovines are also raised, although mostly for own consume, with a few having being sold for reproduction. Tea is also a spice produced in small quantities and sold at local markets and fairs.
A tiny percentage of the agricultural revenue is given to the Ebenthali government in form of contribution.
The industrial sector plays a minor and yet significant role as a source of revenue for the country as many Ebenthalis are microentrepreneurs and producers of industrial goods for exportation.
The main industrialized export products are decorative and luxury articles and textile. It is estimated that there are three factories and stores active in Ebenthali territory.
Money directed to the national treasure originated from this sector is often lesser than others and rare.
The Ebenthali State maintains a few mostly nominal companies on sectors branded of national importance in which the state judges the need to retain the monopoly. Other than the state ones, Ebenthal is home to several private companies.
The country's state companies are:
- Bank of Ebenthal (financial services; under control of the Ministry of Finances)
- Ebenthali Space Research Institute (space studies; under control of the Ministry of Information and Propaganda)
- Royal Institute of Innovations (technological research; under control of the Ministry of Information and Propaganda)
- Royal Light Company (electricity services; it includes the subsidiary SolarVolt Society; under control of the Ministry of the Kingdom)
- Royal Water and Recycling Company (recycling services; under control of the Ministry of the Kingdom)
- Royal National Library (promotion of culture; it includes the Belmonte Library and the Ambarino Princely Library; under control of the Ministry of Culture and Education)
From the creation of the Conferential Doubloon, Ebenthal has adopted a new common economic model labeled "Single-step Contribution Model" or "Direct Contributism". By this model, as Ebenthal has no taxes, the gross of it's revenue comes from contributions made by the Ebenthali population and companies to the government in Brazilian Reais; these contributions, usually defined as the minimum value needed for the annual bought of 1kg of pyrite, is directed to the national reserve in the treasure; the stored contributions, in Reais, may then be used to buy the maximum of 1kg of pyrite per year in order for the Bank of Ebenthal's mint department to produce issue more Doubloons.