House de Weluta and Economy of Puertego: Difference between pages

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{{Infobox economy
| country    = Puertego
|image = Panama-city-panorama.jpg
|image_size = 300px
|caption = [[San Lina]], the {{wp|Financial centre|financial capital}} of Puertego
| currency  = [[Damillo]] (DMO, Đ)
| year      = {{wp|Calendar year}}
| organs    =
| group      = {{plainlist|
*{{wp|Developing country|Developing/Emerging}}
*{{wp|World Bank Lower-middle income economy|Lower-middle income economy}}}}
| gdp        = {{increase}} $1,108,410,624,000 (nominal, 2027 est.)
| gdp rank  = {{plainlist|
*[[List of countries by GDP|10th (nominal, 2028 est.)]]}}
| growth    = 9.2% (2027)
| per capita = {{increase}} $13,040 (nominal, 2027 est.)
| per capita rank = [[List of countries by GDP|6th (nominal, 2027)]]
| sectors    = *{{wp|Primary sector of the economy|agriculture}}: 25%
*{{wp|Secondary sector of the economy|industry}}: 66%
*{{wp|Tertiary sector of the economy|services}}: 4%
| components =
| inflation  = *12.5%
| bankrate  =
| poverty    = {{decreasePositive}} 36% living at or below $3.20 a day (2026)
| gini      = {{increaseNegative}} 50.8 {{color|darkred|high}}
| hdi        = {{increasePositive}} 0.646 {{color|darkorange|medium}}
| labor      = {{plainlist|
*{{increase}} 96 million (July 2028)
*{{steady}} 80% employment rate (July 2028)}}
| occupations = {{plainlist|
*{{wp|Primary sector of the economy|agriculture}}: 57%
*{{wp|Secondary sector of the economy|industry}}: 33%
*{{wp|Tertiary sector of the economy|services}}: 10%
*(2016)}}
| unemployment = 1.2% (official numbers) 11.7% (estimated)
| average gross salary = Đ7,152,640 ($325.12) monthly (2027)
| gross median =
| average net salary = Đ4,770,920 ($216.86) monthly (2027)
| net median =
| industries = {{hlist|{{wp|machinery}}|{{wp|steel}}|{{wp|cement}}|{{wp|chemicals}}|{{wp|food processing}}|{{wp|lumber}}|{{wp|mining}}|{{wp|textiles}}|{{wp|construction}}|{{wp|alchohol}}}}
| edbr      = {{increase}} {{wp|Ease of doing business index#Ranking|Easy #76 (2027)}}
| exports    =
| export-goods = Tin, Natural Rubber, Sugar, Fish, Chemicals, Iron, Steel, Copper, Gold, Silver, Tobacco, Aluminum, Nickel, Zinc, Textiles, Machinery, Alcohol, Cement, Lithium, Paper, Diamonds, Refined Petroleum, Processed Food
| export-partners =
| imports    =
| import-goods = Grains, Corn, Pharmaceuticals, Fertilizer, Livestock, Automobiles, Electronics, Crude Oil, Natural Gas, Coal, Electricity, Broadcasting Equipment
| import-partners =
| current account =
| FDI        = {{plainlist|
*{{increase}} $512 billion (31 December 2027 est.)
*{{increase}} Abroad: $8 million (31 December 2027 est.)}}
| current account = $37,033 million (2028 est.)
| gross external debt = $1,086,181,153,981 (31 December 2027 est.)
| NIIP      =
| debt      = {{decreasePositive}} 77% of GDP (FY 2027)
| balance    = + 0.7% of CDP
| revenue    =
| expenses  =
| aid        =
| credit    = {{plainlist|
*Scope:
*BB
*Outlook: Stable}}
| reserves  = $105.2 billion
}}
The economy of Puertego is a mixed socialist-oriented market economy with the private sector allowed to operate in much of the economy though state control still being common in many industries such as utilities and natural resources. The economy is one of the fastest growing on the continent with it consistently measuring 8-9% GDP growth every year with the economy showing no real signs of slowing in its growth any time soon unless a catastrophic event hits the economy unexpectedly. While the economy has seen rapid and continuous growth ever since 2008 there are still many people who critique many aspects of the economy such as the massive income inequality and poverty allowed to exist in it with Puertego having some of the worst income inequality in the entire world, there has also been criticism towards the countries heavy corruption in state run industries, lack of wage growth despite the growing economy, and the lack of a lot of social welfare commonly found in other countries.
The Puertegan economy was formerly almost exclusively based on farming cash crops and selling them abroad with things such as sugar and rubber however in recent times the economy has been moving to a more industrialized one with the country making it very easy and profitable for companies to outsource their production to Puertego, in recent times Puertego has become a large producer of things such as steel, textiles, chemicals, various refined metals, and aluminum though natural resource extraction still remains a large sector of the economy with mining copper, tin, zinc, nickel and other minerals as well as farming sugar, rubber, and tobacco still being large industries in Puertego. Services are a small sector of the economy with the government prioritizing industry and the only real service jobs are in shipping, finance, or banking or government operated utility companies. Remittances are the last part of the Puertegan economy with the country receiving an estimated $70 billion back from the 14 million Puertegan working abroad often in [[Pelaxia]], [[Cartadinia]], and [[Caphiria]]. The economy of Puertego is largely export based with exports outnumbering imports on a scale of 12 to 1, the country is one of the world's largest importers of energy with them buying coal, oil, and natural gas from almost anyone aboard who will sell it to them as well as being a large importer of food.
== Economic Sectors ==
=== Agriculture ===
=== Mining ===
[[File:Potosi Décembre 2007 - Industrie Minière.jpg|thumb|left|A mine in the eastern mountains of Puertego]]
Mining has always been and remains a large part of the Puertegan economy with the country producing according to 2025 data 18,500 tons of tin, 1,400,000 tons of zinc, 270,000 tons of nickel, 24,500 tons of cobalt, 2,400 tons of lithium, 120 tons of gold, 4,160 tons of silver, and 45,000,000 tons of iron ore. It is estimated through official state numbers that 14% of the population is employed through mining with wages in the sector being barely below average for Puertego and all being employed in the state-run mining company with private companies in that sector being disallowed by law granting the state a complete monopoly on mining operations in Puertego.
=== Manufacturing ===
The manufacturing industry in Puertego has experienced rapid growth in recent years with the countries cities becoming heavily industrialized, manufacturing accounts for 2/3rds of GDP in Puertego and employs 1/3rd of the countries workforce. In 2030 the government of Puertego announced that the manufacturing industry had been completely privatized with the last few factories of the state-owned cement company being liquidated and the company being disbanded, growth in the sector remains extremely high with it experiencing a growth rate of around 14% yearly. The largest manufacturing sectors in Puertego are metallurgy, cement, chemicals, and textiles with smaller industries in arms, alcohol, machinery, food processing, and arms. In Puertego it's estimated that around 80% of manufacturing businesses are foreign owned with the 20% domestic owned ones almost universally being owned by high-ranking government officials in Puertego.
=== Construction ===
Construction in Puertego has been a booming sector since the onset of the nation's rapid industrialization with the demand for new factories in the nation with the building of new factories and infrastructure to accommodate the countries rapidly growing industry as well as the governments large scale projects across the country. Construction in Puertego is privately owned with the state-run construction company being liquidated in 2019 with 4 large-scale privately-owned construction companies all filling its place almost immediately with the companies being owned by the current minister of Internal Security, two former members of the National Assembly, and a high-ranking general in the Puertegan army, however besides the big four construction companies in Puertego there are several much smaller privately owned construction companies which often operate on the grey market in an attempt to dodge taxes on their work with construction estimated to be the largest grey market industry in Puertego by far.


{{Infobox family
=== Energy & Other Utilities ===
|name                = House de Weluta
House of Urcea, House of Caroline, Carolines
|other_names          =  
|type                = Royal House
|coat_of_arms        = File:Moderndwarms.png
|coat_of_arms_size    =  
|alt                  =  
|coat_of_arms_caption =
|country              = [[Urcea]]
|region              = <!-- Main current location - please note, countries that are merely associated with titles should be indicated in "titles" -->
|origin              = <!-- Country, region, town, location etc. of origin -->
|founded              = 14th Century
|founder              =
|current_head        = [[King Riordan VIII]]
|titles              =
{{Collapsible list
| expand =
| framestyle =
| titlestyle =
| title = List of titles
| liststyle =
| hlist =
| bullets =
| 1 =      [[Apostolic King of Urcea]]
| 2 =    King of Talionia
| 3 =    King of New Harren
| 4  =    [[Emperor of the Levantines]]
| 5  =   
| 6  =   
| 7  =   
| 8  =     
| 9  =   
| 10  =         
}}


|styles              = His Most Christian Majesty (for the King)<br>His/Her/Your Christian Highness (for close relatives of the King)<br>His/Her/Your Excellency (for all other family members)
The energy and other utility sectors of Puertego remain under complete state control with the state granting itself a monopoly on the sector. The energy sector is primarily fueled through natural gas, crude oil, and coal though hydropower also makes up a sizeable portion of energy generated however the government has made an attempt to switch to less environmentally destructive methods of energy generation with multiple nuclear power plants currently being built in order to meet the nation's growing energy needs. The national energy grid often has trouble producing enough energy to sustain the national energy consumption which spiked significantly after the nations rapid industrialization with the government choosing to save energy for the industrial sector leading to only 1 in every 4-5 streetlights being kept on and scheduled black outs in the nation's cities being a daily occurrence often lasting around 2.5 hours each day and only buildings deemed necessities like government offices and hospitals being unaffected, though there have been initiatives by the government to increase the percentage of the population with access to electricity in their homes only around 45% of Puertegans currently have access with the presence of large amounts of informal housing being a primary obstacle to achiving higher levels. The water industry in Puertego is also state owned just like the electricity industry with many recent improvements to the water supply of Puertego in recent years such as vastly improved sanitation and disinfecting along with access to clean drinking water in cities being almost universal and in rural areas reaching an average of 75% with access.
|members              =
|connected_members    = <!-- Notable members in selection, only if relevant in infobox and readability-wise applicable -->
|other_families      = <!-- Connected families, typically qualified by marriage (or rarely rivalry) -->
|distinctions        = <!-- Primarily associated distinctions such as orders, prizes, awards, etc. -->
|traditions          = <!-- Religion, philosophy, movement, adherence, allegiance, etc. -->
|motto                = ''{{wp|Via et veritas et vita}}''
|motto_lang          =
|motto_trans          = The way, the truth, and the life
|heirlooms            = <!-- Inheritances; antiques, mementos, jewelry, etc. -->
|estate              =
{{Collapsible list
| expand =
| framestyle =
| titlestyle =
| title = List of properties owned
| liststyle =
| hlist =
| bullets =
| 1 =  [[Castle Welute]] 
| 2 =   
| 3 =   
| 4  =   
| 5  =   
| 6  =   
}}
}}


The '''House de Weluta''' is the reigning royal house of the [[Urcea|Apostolic Kingdom of Urcea]] as well as the Kingdoms of [[Talionia]] and [[New Harren]]. The house originated as a cadet branch of the [[Julian dynasty]]. Emerging victorious from the [[Saint's War]] and Great Interregnum in the 14th Century, the House de Weluta has ruled over Urcea with two notable interruptions since. Several of its members, beginning with [[Emperor Leo III of the Holy Levantine Empire|Emperor Leo III]], have reigned as [[Emperor of the Levantines]], and since the [[Second Great War]] that title has been permanently associated with the dynasty.
=== Banking & Finance ===


Like all other Royal houses throughout the history of [[Urcea]], the House de Weluta is the "great house" of the Estate of the [[Julii (Estate)|Julii]] within the [[Estates of Urcea]]. [[King Riordan VIII]] is the head of the House de Weluta and Custóir of the Julii Estate. The main line of the House is sometimes distinguished from the rest of the House by being referred to as the "''Carolines''", or even more rarely, the "''House of Caroline''", based on the agnomen adopted under the [[Tria nomina movement|tria nomina system]], ''Carolinicus''.
==Name==
The source of the house's name is a matter of significant contention. Both "Welutes", "Velucians", and "Welutians" are attributed in the historic record as residing at [[Castle Welute]]  as early as ca. 1310. Traditionally, the House was attributed to a mythic figure, "Chief Veluti the Great," who allegedly resisted the incursion of [[Gallawa]] into his clan's lands in [[Ionia]] for two decades in the 8th century, but almost all historians believe this story to be fiction. Although some historians suggest that the family is actually named for the castle, linguists do suggest that "Welut" is a real name originating from Ionia in the early medieval period based on the roots of the word. Regardless of precise origin, the term "House of Welute" and various formulations thereof were in common use referring to the family by ca. 1390.


==History==
=== Origins ===
During a lengthy period of dynastic struggle in Urcea's history known as the [[Saint's War]], the House of Julio-Aleckán - direct heirs of [[Gaius Julius Cicurinus|Saint Julius of the Caeline]] - fought for control of the [[Apostolic King of Urcea|Julian Throne]]. Struggling with the House of Cónn, the Urcean Crown changed hands five times before the beginning of the Great Interregnum, a period in which Urcea was divided into the [[Urceopolis (Archduchy)|Archduchy of Urceopolis]] and [[Harren|Grand Duchy of Harren]], with the holder of each claiming to be King but [[Urceopolis (City)|Urceopolis]] itself in the hands of the Papacy. The Aleckán dynasty died out during this period, and the Grand Duchy of Harren passed to a cadet branch, the House de Weluta.


Prior to its involvement in the dynastic feuds for the Urcean Crown, the Welute or Velucian Clan was a relatively minor clan in the [[Ionian Plateau]] in the eastern part of Urcea, but came into some prominence as a mercenary band during the [[Saint's War]]. [[List of Urcean monarchs#House%20of%20Julio-Aleck.C3.A1n%203|King Lucás I of the House of Julio-Aleckán]] enlisted the Velucian clan's aid in seizing [[Urceopolis (City)|Urceopolis]] in 1312 and were soon recognized as stalwart allies of the Aleckán dynasty. As a reward for their efforts in 1312 the clan was granted lands in the [[Urceopolis (Archduchy)|Archduchy of Urceopolis]], including one with a large outcropping of granite. The clan built [[Castle Welute]] and the lead branch of the clan became the House de Weluta from that point forward, though the Velucian Clan continued to exist in some form in the highlands until the middle of the 16th century. House de Weluta became a part of the [[Julian dynasty]] in [[1348]] when its leader defeated an advancing force of the [[Holy Levantine Empire]] which intended to resolve the [[Saint's War]] in favor of the Emperor, and consequently the house head was awarded with a daughter of the Aleckán Archduke at the time. Their marriage would result in several children, including the father of the future [[Apostolic King of Urcea]] Lucás II.
=== Gambling ===
===First reign in Urcea===
===Second reign in Urcea===
===Current reign in Urcea===
At the end of the [[First Great War]], [[Patrick III of Urcea|King Patrick III]] was [[History_of_Urcea_(1902-1955)#Restoration|restored]] to the throne of his father, [[Aedanicus VIII]]. The restoration inaugurated the restored and current reign of House de Weluta over Urcea. The current reign saw a minor dynastic crisis during the mid 20th century. [[Brian IV of Urcea|King Brian IV]] had several male heirs, and upon his death in 1947 his eldest son Lucás IV was crowned King. Lucás was assassinated in [[1949]], bringing his brother Patrick IV to the Throne. Patrick was unable to have children despite significant efforts to do so. He died in 1967 following an 18 year reign, handing the throne to his brother Donnchad IV. Fortunately for both Urcea and House de Weluta, Donnchad had a son Aedanicus, born in [[1927]], who became Apostolic King in [[1971]]. Accordingly, the succession remained uncertain for nearly two decades. Aedanicus IX's long reign and many children were marred with the unfortunate death of his son and heir, Aedanicus the Prince of Halfway, in 1996. The Prince of Halfway's son, [[Riordan VIII|Riordan]], became Prince of Halfway and thus heir, becoming King Riordan VIII after the death of his grandfather in 2006.


===Abroad===
The gambling industry in Puertego was originally outlawed in by the 2002 Moral Standards Act which outlawed all unauthorized forms of gambling and provided for penalties ranging from monetary fines to short prison sentences, although the Puertegan government does not list gambling as an offense which someone is able to go to prison over. However, while gambling is still officially illegal in Puertego the law only applies to Puertegan citizens allowing many casinos to operate inside Puertego's borders designed to cater to the interests of tourists with 22 such establishments existing in Puertego. However, despite the restrictions on gambling imposed by the government gambling as a past time has been deeply ingrained in Puertegan culture with men who refuse to take part in gambling often being labeled as unmasculine or cowards with a fear of any risks causing illegal gambling to be a large black-market sector in Puertego with the police force often being paid bribes to look the other way on it. Common forms of illegal gambling in Puertego include cockfights or dogfights, card rooms, and sports books with most of those run by organized crime, the large number of opportunities for gambling plus many Puertegan men feeling they need to gamble due to cultural expectations has led to widespread gambling addiction plaguing Puertego.
House de Weluta has assumed crowns abroad at various times beginning in the 18th century. For the most part, these crowns were new realms held in personal union with the [[Apostolic King of Urcea]], such as the late 18th century creation of [[Talionia]] or early 21st century creation of [[New Harren]]. There are some prominent exceptions to this general rule. In [[1824]], Corio de Weluta was crowned King Arathvesur I of [[Paulastra]], bringing the still-reigning [[Julian dynasty]] to that country. The direct de Weluta line ruling Paulastra ended in [[1890]].


==Realms==
== Trade & Foreign investment ==
=== Urcea ===
=== Foreign Trade ===
In the later portions of the [[Great Interregnum]], the House de Weluta suceeded the [[List of Urcean monarchs#House%20of%20Julio-Aleck.C3.A1n%203|Aleckán]] dynasty as head of the Aleckán faction, and in so doing the de Welutas inherited the [[Urceopolis (Archduchy)|Archduchy of Urceopolis]]. Galvanizing the highland clans and Aleckán loyalists, Lucás de Weluta managed to end the [[Saint's War]] at the Battle of Glens Falls in 1401, becoming [[Apostolic King of Urcea]]. While some questioned the legitimacy of the de Welutas on the account of "mere" female succession from the Aleckáns, King Lucás II married the Cónn heiress following the battle, uniting the two branches of the [[Julian dynasty]] under House de Weluta.


While the house was briefly deposed during the 16th century, it was restored during the [[Great Confessional War]] with [[Emperor Leo III of the Holy Levantine Empire|King Leo II]] emerging victorious over Protestant rivals in 1565. The house was again briefly deposed prior to the [[Red Interregnum]] but was restored in 1902.
=== Free Trade ===


The de Welutas have held the [[Apostolic King of Urcea|Apostolic Kingship]] for longer than any other branch of the Julian dynasty, reigning interrupted since 1402, a total of 540 years as of the accession of [[Riordan VIII]] in [[2006]] out of a total of 908 years of the existence of the Kingship. Riordan VIII, upon his accession, became the 34th Urcean monarch from the House out of a total of 53 Urcean monarchs. In that time, the de Welutas have become closely associated both with the Kingship itself as well as Urcea as a whole. Efforts to remove the de Welutas in favor of other members of the Julian dynasty have been thwarted on multiple occasions, most recently [[History_of_Urcea_(1798-1902)#Mandt_Affair|due to public outcry]] in [[1896]].
=== Foreign Debt, Aid, and Investment ===
===Holy Levantine Empire===
House de Weluta has a long and sometimes troubled history with the title of [[Emperor of the Levantines]], a title it now holds permanently following the [[Treaty of Corcra]]. Between the beginning of the Imperial reign of [[Leo III, Emperor of the Levantines|King Leo the Great]] in [[1572]] and the end of the reign of King Lucás III in [[1798]], members of House de Weluta had held the Imperial throne for 113 of 226 years, despite efforts to remove them - most prominently in the events surrounding the [[War of the Caroline Succession]]. Following the removal of the House from Imperial office in [[1798]] during the [[Second Caroline War]], House de Weluta assumed what had been an unprecedented posture of antagonism towards the Empire, beginning the century-long [[Recess of the Julii]]. Restored to Imperial authority in [[1920]], House de Weluta has held the throne ever since, including as part of the legal pretense of the [[Empire-in-fact]].


The long relationship between House de Weluta and the Empire is reflected on the family's arms, which include the large Imperial Eagle as the primary part of the arms and the smaller house arms in {{wp|Escutcheon (heraldry)|escutcheon}}. The Imperial Eagle also appears in the smaller shield from the period of the 18th century Imperial reign.
== Labor Market ==
=== Unionization ===


===Talionia===
=== Wages ===
[[Urcea]] acquired territory in [[Urlazio]] as part of the [[Veltorine War of Independence]] in [[1782]]. These territories were reorganized as the Kingdom of [[Talionia]], with Lucás III becoming King Lucás I of Talionia in that year. The Kingdom is still held in personal union with the [[Apostolic King of Urcea]].


===Paulastra===
=== Labor Export ===
{{Main|List of Paulastran monarchs}}
[[File:Karl XIV Johan, 1763-1844, kung av Sverige och Norge (Fredric Westin) - Nationalmuseum - 39758.tif|thumb|right|200px|King Arathvesur I (1824-1844), first King of [[Paulastra]], established the Julian dynasty and House de Weluta in that country.]]
After the establishment of [[Paulastra]] as an independent nation, the new realm sought a King abroad. In [[1824]], Corio de Weluta - a cousin of then-King Niall V and primary author of the [[Great Bull of 1811]] - was [[Paulastra#Finding_a_King|invited to take the Paulastran throne]]. Upon his accession, he took the [[Coscivian]] regnal name King Arathvesur I. The direct de Weluta line would rule in Paulastra through the reigns of Arathvesur, his son Xitomer, and his granddaughter Arathvesura, lasting from 1824 through 1890. Arathvesura married a local noble, establishing the new [[Paulastra#New_Royal_dynasty|House of Newaster]]. The House of Newaster, and its successor Newaster-Tuskane, can trace its lineage to House de Weluta and still reigns in Paulastra today. They continue to share heritage with House de Weluta two parts of the broader [[Julian dynasty]].


===New Harren===
=== Welfare ===
In the 1850s, Urcea [[New_Harren#Colonial_establishment|established a small colonial hold]] in [[Crona]] called [[New Harren]], and accordingly House de Weluta ruled over this territory as a foreign rectory of Urcea for a century and a half. In the wake of the [[War of the Northern Confederation]], New Harren was [[New_Harren#Organization|reorganized as a Kingdom]], and Riordan VIII was crowned King Riordan I of New Harren on 4 December 2010.


==House traditions==
== Enviornmental Damages ==
House de Weluta has a number of familial customs and traditions that have developed during its time at the head of Urcean society.
===Dining===
===Dress and appearance===
===Burials===
By custom, almost all members of House de Weluta are buried in the [[Urceopolis_(City)#New_City|New City]] borough of [[Urceopolis (City)|Urceopolis]], and a vast majority have been buried in the Leonine Crypt attached to the [[Caeline Basilica]] constructed by [[Leo III, Emperor of the Levantines|King Leo II]] in [[1570]]. All members of the dynasty buried in the crypt are buried with a small bronze circlet laid on their chest, signifying both their positions as royals as well as their future "halos" in heaven. A small number of Kings have opted to have their circlets made of gold instead.
[[Category: Urcea]]
[[Category:IXWB]]
[[Category: Families]]

Revision as of 10:51, 4 July 2023

Economy of Puertego
San Lina, the financial capital of Puertego
CurrencyDamillo (DMO, Đ)
Calendar year
Country group
Statistics
GDPIncrease $1,108,410,624,000 (nominal, 2027 est.)
GDP rank
GDP growth
9.2% (2027)
GDP per capita
Increase $13,040 (nominal, 2027 est.)
GDP per capita rank
6th (nominal, 2027)
GDP by sector
  • 12.5%
Population below poverty line
Positive decrease 36% living at or below $3.20 a day (2026)
Negative increase 50.8 high
Template:IncreasePositive 0.646 medium
Labour force
  • Increase 96 million (July 2028)
  • Steady 80% employment rate (July 2028)
Labour force by occupation
Unemployment1.2% (official numbers) 11.7% (estimated)
Average gross salary
Đ7,152,640 ($325.12) monthly (2027)
Đ4,770,920 ($216.86) monthly (2027)
Main industries
Increase Easy #76 (2027)
External
Export goods
Tin, Natural Rubber, Sugar, Fish, Chemicals, Iron, Steel, Copper, Gold, Silver, Tobacco, Aluminum, Nickel, Zinc, Textiles, Machinery, Alcohol, Cement, Lithium, Paper, Diamonds, Refined Petroleum, Processed Food
Import goods
Grains, Corn, Pharmaceuticals, Fertilizer, Livestock, Automobiles, Electronics, Crude Oil, Natural Gas, Coal, Electricity, Broadcasting Equipment
FDI stock
  • Increase $512 billion (31 December 2027 est.)
  • Increase Abroad: $8 million (31 December 2027 est.)
$37,033 million (2028 est.)
$1,086,181,153,981 (31 December 2027 est.)
Public finances
Positive decrease 77% of GDP (FY 2027)
+ 0.7% of CDP
  • Scope:
  • BB
  • Outlook: Stable
Foreign reserves
$105.2 billion

All values, unless otherwise stated, are in US dollars.

The economy of Puertego is a mixed socialist-oriented market economy with the private sector allowed to operate in much of the economy though state control still being common in many industries such as utilities and natural resources. The economy is one of the fastest growing on the continent with it consistently measuring 8-9% GDP growth every year with the economy showing no real signs of slowing in its growth any time soon unless a catastrophic event hits the economy unexpectedly. While the economy has seen rapid and continuous growth ever since 2008 there are still many people who critique many aspects of the economy such as the massive income inequality and poverty allowed to exist in it with Puertego having some of the worst income inequality in the entire world, there has also been criticism towards the countries heavy corruption in state run industries, lack of wage growth despite the growing economy, and the lack of a lot of social welfare commonly found in other countries.

The Puertegan economy was formerly almost exclusively based on farming cash crops and selling them abroad with things such as sugar and rubber however in recent times the economy has been moving to a more industrialized one with the country making it very easy and profitable for companies to outsource their production to Puertego, in recent times Puertego has become a large producer of things such as steel, textiles, chemicals, various refined metals, and aluminum though natural resource extraction still remains a large sector of the economy with mining copper, tin, zinc, nickel and other minerals as well as farming sugar, rubber, and tobacco still being large industries in Puertego. Services are a small sector of the economy with the government prioritizing industry and the only real service jobs are in shipping, finance, or banking or government operated utility companies. Remittances are the last part of the Puertegan economy with the country receiving an estimated $70 billion back from the 14 million Puertegan working abroad often in Pelaxia, Cartadinia, and Caphiria. The economy of Puertego is largely export based with exports outnumbering imports on a scale of 12 to 1, the country is one of the world's largest importers of energy with them buying coal, oil, and natural gas from almost anyone aboard who will sell it to them as well as being a large importer of food.

Economic Sectors

Agriculture

Mining

A mine in the eastern mountains of Puertego

Mining has always been and remains a large part of the Puertegan economy with the country producing according to 2025 data 18,500 tons of tin, 1,400,000 tons of zinc, 270,000 tons of nickel, 24,500 tons of cobalt, 2,400 tons of lithium, 120 tons of gold, 4,160 tons of silver, and 45,000,000 tons of iron ore. It is estimated through official state numbers that 14% of the population is employed through mining with wages in the sector being barely below average for Puertego and all being employed in the state-run mining company with private companies in that sector being disallowed by law granting the state a complete monopoly on mining operations in Puertego.

Manufacturing

The manufacturing industry in Puertego has experienced rapid growth in recent years with the countries cities becoming heavily industrialized, manufacturing accounts for 2/3rds of GDP in Puertego and employs 1/3rd of the countries workforce. In 2030 the government of Puertego announced that the manufacturing industry had been completely privatized with the last few factories of the state-owned cement company being liquidated and the company being disbanded, growth in the sector remains extremely high with it experiencing a growth rate of around 14% yearly. The largest manufacturing sectors in Puertego are metallurgy, cement, chemicals, and textiles with smaller industries in arms, alcohol, machinery, food processing, and arms. In Puertego it's estimated that around 80% of manufacturing businesses are foreign owned with the 20% domestic owned ones almost universally being owned by high-ranking government officials in Puertego.

Construction

Construction in Puertego has been a booming sector since the onset of the nation's rapid industrialization with the demand for new factories in the nation with the building of new factories and infrastructure to accommodate the countries rapidly growing industry as well as the governments large scale projects across the country. Construction in Puertego is privately owned with the state-run construction company being liquidated in 2019 with 4 large-scale privately-owned construction companies all filling its place almost immediately with the companies being owned by the current minister of Internal Security, two former members of the National Assembly, and a high-ranking general in the Puertegan army, however besides the big four construction companies in Puertego there are several much smaller privately owned construction companies which often operate on the grey market in an attempt to dodge taxes on their work with construction estimated to be the largest grey market industry in Puertego by far.

Energy & Other Utilities

The energy and other utility sectors of Puertego remain under complete state control with the state granting itself a monopoly on the sector. The energy sector is primarily fueled through natural gas, crude oil, and coal though hydropower also makes up a sizeable portion of energy generated however the government has made an attempt to switch to less environmentally destructive methods of energy generation with multiple nuclear power plants currently being built in order to meet the nation's growing energy needs. The national energy grid often has trouble producing enough energy to sustain the national energy consumption which spiked significantly after the nations rapid industrialization with the government choosing to save energy for the industrial sector leading to only 1 in every 4-5 streetlights being kept on and scheduled black outs in the nation's cities being a daily occurrence often lasting around 2.5 hours each day and only buildings deemed necessities like government offices and hospitals being unaffected, though there have been initiatives by the government to increase the percentage of the population with access to electricity in their homes only around 45% of Puertegans currently have access with the presence of large amounts of informal housing being a primary obstacle to achiving higher levels. The water industry in Puertego is also state owned just like the electricity industry with many recent improvements to the water supply of Puertego in recent years such as vastly improved sanitation and disinfecting along with access to clean drinking water in cities being almost universal and in rural areas reaching an average of 75% with access.

Banking & Finance

Gambling

The gambling industry in Puertego was originally outlawed in by the 2002 Moral Standards Act which outlawed all unauthorized forms of gambling and provided for penalties ranging from monetary fines to short prison sentences, although the Puertegan government does not list gambling as an offense which someone is able to go to prison over. However, while gambling is still officially illegal in Puertego the law only applies to Puertegan citizens allowing many casinos to operate inside Puertego's borders designed to cater to the interests of tourists with 22 such establishments existing in Puertego. However, despite the restrictions on gambling imposed by the government gambling as a past time has been deeply ingrained in Puertegan culture with men who refuse to take part in gambling often being labeled as unmasculine or cowards with a fear of any risks causing illegal gambling to be a large black-market sector in Puertego with the police force often being paid bribes to look the other way on it. Common forms of illegal gambling in Puertego include cockfights or dogfights, card rooms, and sports books with most of those run by organized crime, the large number of opportunities for gambling plus many Puertegan men feeling they need to gamble due to cultural expectations has led to widespread gambling addiction plaguing Puertego.

Trade & Foreign investment

Foreign Trade

Free Trade

Foreign Debt, Aid, and Investment

Labor Market

Unionization

Wages

Labor Export

Welfare

Enviornmental Damages

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