Economy of Ela'r'oech
| Economy of Ela'r'oech | |
|---|---|
| Currency | Dimae |
| Fixed exchange rates | Đ1 = $0.10 USD |
| Fiscal year | 1 September |
| Statistics | |
| GDP | ▲ Đ35,920 (2024) $3,592 USD |
| Inflation |  1% |
| Average net salary | ▲ Đ 9.2 (est. Jan 2024) |
| Main industries | Technology • News • Entertainment • Finances |
| External | |
| Export goods | Smartphones, software, food products, hardware, flags, fences |
| Main export partners |  United States 50% China 20% European Union 20% Mexico 10% |
| Import goods | Machinery and equipment, computational technology, minerals and metals, clothing, food |
| Main import partners | United States 60% ETU 30% European Union 20% Pontunia 10% |
| Public finances | |
| Public debt | 0% of GDP (2024) |
| Budget deficit | 0% of GDP (2024) |
| Foreign reserves | Đ 3.5 thousand (2024) |
| All values, unless otherwise stated, are in | |
The economy of Ela'r'oech has been in nearly-consistent growth since 2022. The Elarian economy is characterized by openness, capitalism, and a lack of regulatory constraints. Ela'r'oech operates within an open and capitalist economic framework, devoid of significant regulatory oversight. The nation's currency, the Dimae (DME), is pegged at a rate of 1 DME to 0.10 USD, providing a stable basis for financial transactions within and beyond its borders.
Stability
The economy of Ela'r'oech exhibits a generally stable outlook, buoyed by a robust entrepreneurial spirit and diverse economic activities. With a GDP bolstered by thriving industries and a dynamic business landscape, the nation has witnessed consistent growth and development.
Inflation
Due to the absence of extensive regulations, inflation within the economy of Ela'r'oech remains relatively moderate, with market forces largely determining price levels. The government maintains a vigilant stance towards inflationary pressures, employing measures to mitigate potential risks.
Key industries
The economy of Ela'r'oech thrives on diverse industries, with media, technology, and finance standing out as primary drivers of growth and innovation. These sectors contribute significantly to the nation's GDP and employment, fostering a dynamic economic landscape conducive to entrepreneurship and investment.
Taxation system
Ela'r'oech implements a straightforward taxation system, with taxes levied primarily on income. The government imposes a flat rate of 1% on an individual's total gross pay per year, ensuring a steady stream of revenue to fund public services and infrastructure projects. Taxes are due by 31 August each fiscal year, with compliance essential for citizens and businesses alike.
Imports and exports
Ela'r'oech engages in international trade, importing goods primarily from the United States (estimated at 50% of total imports), followed by China (20%), the European Union (20%), and Mexico (10%). The nation's main export goods include smartphones, software, food products, hardware, flags, and fences.