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Economy of Arcerion: Difference between revisions
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==== Gas and Petroleum ==== | ==== Gas and Petroleum ==== | ||
''Main Article: [[Albion Sea Gas Fields]]'' | ''Main Article: [[Albion Sea Gas Fields]]'' | ||
Gas and petroleum has been a growth industry for Arcerion since the 1980s and the exploration, extraction, processing, and export of liquid natural gas and crude oil from the Albion Sea Gas Fields. It is a ₤1.1 trillion pound industry that accounts for millions of jobs in Arcerion and a significant portion of the GDP. It has maintained a steady increase in both the energy production share and its economic output as part of the national economy since then. It is expected to see steady growth for decades as more areas are explored and additional facilities are constructed. The majority of this economic boom is centered in Howland Governorate, where the storage, processing, and export facilities for liquid natural gas and crude oil are kept. Much of this petroleum and gas is exported locally to North Crona, to Indigenous countries with a lack of renewable energy sources. | Gas and petroleum has been a growth industry for Arcerion since the 1980s and the exploration, extraction, processing, and export of liquid natural gas and crude oil from the Albion Sea Gas Fields. It is a ₤1.1 trillion pound industry that accounts for millions of jobs in Arcerion and a significant portion of the GDP. It has maintained a steady increase in both the energy production share and its economic output as part of the national economy since then. It is expected to see steady growth for decades as more areas are explored and additional facilities are constructed. The majority of this economic boom is centered in Howland Governorate, where the storage, processing, and export facilities for liquid natural gas and crude oil are kept. Much of this petroleum and gas is exported locally to North Crona, to Indigenous countries with a lack of renewable energy sources. | ||
[[File:Wheat harvest northlea.jpg|thumb|A combine harvester works in Northlea Governorate during harvest season in 2023.]] | |||
==== Agriculture ==== | ==== Agriculture ==== | ||
As of 2030, Arcer agriculture made up 30% of the Arcer GDP. Over two-thirds of Arcer food products and farm products are exported, and Arcerion is considered to be self-sufficient for foodstuffs as it is a net exporter of grain, beef, barley, and other farm crops. Irrigation is a key staple of the Arcer agricultural industry, and the network of freshwater rivers, culminating in the Innis River Basin also help to irrigate and provide the water required for the vast amounts of arable farmland that make up the majority of the Arcer Heartland. Although Arcerion has a fairly average rainfall for the climate it is in, rivers and crop rotation help to keep the soil fertile and crop yields high. As well, Arcer investment in modern farm machinery, bio-engineered crops, and pesticides all assist with keeping crop yields high and blight low. It also makes up the largest work force in Arcerion, as agriculture, and supporting industries (farm machinery sales, grain elevators, foodstuff transportation) are the dominant form of employment in [[Northlea Governorate]]. Farming is expected to be a staple in the Arcer economy for decades, as much of South Crona relies on Arcer food and energy exports for its daily subsistence. | As of 2030, Arcer agriculture made up 30% of the Arcer GDP. Over two-thirds of Arcer food products and farm products are exported, and Arcerion is considered to be self-sufficient for foodstuffs as it is a net exporter of grain, beef, barley, and other farm crops. Irrigation is a key staple of the Arcer agricultural industry, and the network of freshwater rivers, culminating in the Innis River Basin also help to irrigate and provide the water required for the vast amounts of arable farmland that make up the majority of the Arcer Heartland. Although Arcerion has a fairly average rainfall for the climate it is in, rivers and crop rotation help to keep the soil fertile and crop yields high. As well, Arcer investment in modern farm machinery, bio-engineered crops, and pesticides all assist with keeping crop yields high and blight low. It also makes up the largest work force in Arcerion, as agriculture, and supporting industries (farm machinery sales, grain elevators, foodstuff transportation) are the dominant form of employment in [[Northlea Governorate]]. Farming is expected to be a staple in the Arcer economy for decades, as much of South Crona relies on Arcer food and energy exports for its daily subsistence. | ||
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''Main Article: [[Energy in Arcerion]]'' | ''Main Article: [[Energy in Arcerion]]'' | ||
[[Arcerion]] has considerable sources of oil and natural gas in the Northern portions of the [[Albion Sea]] and is ranked as one of the largest net exporters of natural gas and crude oil in the 21st Century, and is in the top three in [[Crona]]. Arcerion is energy self-sufficient based on its reserves of crude oil, natural gas, and coal mined from the Aileach Mountain Range. With gas resources expected to decline in usage as well as available stock, the [[Government of Arcerion|Confederate Parliament]] has sought to invest in renewable and long-term energy investments such as nuclear energy. Arcerion has been traditionally dominated in the energy sector by coal-fired powerplants due to the abundance of coal in the Aileach Mountains. However it still remains as one of the main components for fueling the energy production centers for the Arcer Power Grid. Coal amounts to 52% of energy and electricity production in Arcerion, followed by nuclear at 24% and natural gas at 19%. Solar, wind and renewable/'green' energy sources make up the remaining 5% of Arcerion's electricity production. | |||
=== Services === | === Services === | ||
==== Finance ==== | ==== Finance ==== | ||
''Main Article: [[Banking in Arcerion]]'' | ''Main Article: [[Banking in Arcerion]]'' | ||
The finance sector in Arcerion is defined as industries related to the management of wealth, banking, securities and stock exchanges, investment, and venture capital companies, other other white-collar professions such as accounting. Finance in Arcerion began with traditional banks and securities exchanges, however it saw a drastic rise after the end of the Ardmori Civil War, and with the Great Migration of Ardmori citizens to Arcerion under resettlement programs to allow for Loyalist families to escape communism. This also consisted of a number of notable Ardmori families that had moved their funds and finances offshore to non-Ardmori banks, and after moving to Arcerion re-invested their wealth in their new home country. | |||
Finance in Arcerion accounted for 10-14% of the GDP as of the mid 2020s, with the majority of the financial institutions and large banks being located in Kinnaird, Arcerion. The industry has seen steady, single-digit growth throughout the late 20th and early 21st centuries, and with the collapse of Varshan there was a boon in investment as large corporations or assets seized by the League of Nations were auctioned off and partitioned to help pay for reparations and reconstruction efforts. Finance has continued to be an attractive form of employment for many Arcer citizens, with business schools, universities, colleges, and other academic programs continuing to see a rise in enrollment as of the mid-2020s. For Arcerion banks alone, it estimated by the Royal Arcerion Banking Commission (RABC) that as of 2020 Arcer banks held an estimated ₤4.7 trillion in assets, the largest single accumulation of wealth of any non-Levantine nation. | |||
Arcerion also holds one of the most important stock exchanges in Ixnay, that being the [[Kinnaird Stock Exchange]]. | |||
==== Tourism ==== | ==== Tourism ==== | ||
== International Trade == | == International Trade == | ||
[[File:Trade Graphic.png|thumb|Arco Trade Flow by Continent. ]] | [[File:Trade Graphic.png|thumb|Arco Trade Flow by Continent. ]]With the turn of the 21st century and the end of the Occidental Cold War, Arcerion shifted its traditional intra-Cronan trade relationships and took on an increasingly large international trade deficit as it sought to cement new foreign commercial relationships. Efforts by the Arcer [[Arcerion Ministry of Finance|Ministry of Finance]] to do so took place from 2003-2009 with special efforts made in Australis, Levantia, and Sarpdeon. This also invited foreign investment into Arcerion, as the regional instability of Crona had shown it was a stable liberal democracy with a steady free market combined with good credit, making it attractive for international capital. | ||
As of the 2020s, the impact of these initiatives became clear as Arcerion's GDP began to see low double-digit growth well into the 2010s and 2020s. Fuelled by natural resources, booming petroleum exports, affordable food and farm exports, and its new arms and manufacturing sector, Arcer business steadily made gains internationally. During this time, Arcer trade with its oldest international trade partner, Burgundie, doubled between 1999 and 2008. Arcerion saw the highest growth of GDP of any South Cronan nation during the 2000s and 2010s. | |||
=== Cronan Security and Trade Union === | === Cronan Security and Trade Union === | ||
Possible new members, reform and recreation | Possible new members, reform and recreation | ||
{{Template:Award winning article}} | |||
[[Category:2023 Award winning pages]] | |||
[[Category:IXWB]] | |||