View source for Economy of the Kingdom of Sierra

{{Icons|C-class|Altverse II}}
{{Construction}}
{{Infobox economy
|rank                = 4th (nominal) / 4th (PPP)
|country             = the Kingdom of Sierra
|image               = Los_Angeles_with_Mount_Baldy.jpg
|caption             = Downtown [[Porciúncula]], the financial center of the Kingdom of Sierra
|width               = 300
|currency            = [[Sierran dollar]] (KSD; $)
|year                = July 1 – June 30
|organs              = [[Conference of American States|CAS]], [[World Trade Organization]], and [[Organization for Economic Cooperation and Development]]
|group               = {{Plainlist|
*{{W|Developed country|Advanced economy}}
*{{W|World Bank high-income economy|High-income economy}}
*{{W|Welfare state}}
}}
|gdp                 = {{UP}} $9.0479 trillion  (2024) (nominal; 4th)<br />
                       {{UP}} $9.0479 trillion (2024) (PPP; 4th)
|growth              = {{UP}}{{color|green|+3.0%}} (2024) 
|per capita          = {{UP}} $101,623 (2024) (nominal; 3rd)<br /><!--Jul. 2024 pop. est. is 89,033,724-->
                       {{UP}} $101,623 (2024) (PPP; 4th)
|sectors             = {{plainlist|
*Agriculture: 1.0%
*Industry: 16.7%
*Services: 82.3%
}}
|inflation           = 3.1% (August 2024)
|poverty             = {{DecreasePositive}} 10.9% (2024)<br>{{steady}}  9.7 million
|gini                = 0.439 {{color|darkorange|medium}} (2024)
|labor               = {{UP}} 54.5 million (2024)
|edbr                = {{steady}} 6th
|occupations         = {{plainlist|*Agriculture: 1%
*Industry: 17%
*Services: 82%
*(2024)
}}
|unemployment        = {{DecreasePositive}} 4.1% (2024)
|industries          = {{hlist|{{W|High-technology}}|{{W|aerospace}}|{{W|telecommunications}}|{{W|chemicals}}|{{W|electronics}}|{{W|motor vehicle}}s|{{W|steel}}|{{W|agribusiness}}|{{W|food processing}}|{{W|information technology}}|{{W|artificial intelligence}}|{{W|consumer goods}}|{{W|retail}}|{{W|healthcare}}|{{W|financial services}}|{{W|mining}}|{{W|renewable energy}}|{{W|lumber}}|{{W|petroleum}}|{{W|quantum computing}}|{{W|space technology}}|{{W|defense}}|{{W|biotechnology}}|{{W|pharmaceutical}}}}
|exports             = {{UP}} $1.5 trillion f.o.b. (2024)
|export-partners     = {{Tree list}}
*{{nowrap|{{flag|Conference of American States}} 55.5%}}
**{{flag|Astoria}} 17.4%
**{{flag|Superior}} 13.4%
**{{flag|Brazoria}} 11.2%
**{{flag|Manitoba}} 4.7%
**{{flag|Brazil}} 1.6%
**Other CAS members 7.2%
*{{flag|United Commonwealth}} 9.8%
*{{flag|China}} 9.4%
*{{flag|India}} 4.1%
*{{flag|Japan}} 4.1%
*{{flag|European Community}} 8.0%
**{{flag|United Kingdom}} 1.9%
**{{flag|Germany}} 1.7%
**{{flag|France}} 0.8%
**{{flag|Russia}} 0.5%
**Other EC members 3.1%
*{{flag|ASEAN}} 6.2%
**{{flag|Tondo}} 2.6%
**{{flag|South Vietnam}} 2.4%
**{{flag|Thailand}} 0.9%
**Other ASEAN members 0.3%
*{{flag|Mexico}} 1.7%
*{{flag|Korea}} 0.5%
*Others 0.7%
|imports             = {{UP}} $517 billion f.o.b. (2024)
|import-partners     = {{Tree list}}
*{{nowrap|{{flag|Conference of American States}} 47.8%}}
**{{flag|Astoria}} 17.5%
**{{flag|Superior}} 13.3%
**{{flag|Brazoria}} 11.2%
**{{flag|Manitoba}} 3.0%
**{{flag|Brazil}} 1.8%
**Other CAS members 1.0%
*{{flag|China}} 10.2%
*{{flag|United Commonwealth}} 9.6%
*{{flag|Mexico}} 7.7%
*{{flag|European Community}} 6.6%
**{{flag|United Kingdom}} 1.8%
**{{flag|Germany}} 1.7%
**{{flag|Russia}} 0.6%
**{{flag|France}} 0.4%
**Other EC members 2.1%
*{{flag|ASEAN}} 5.7%
**{{flag|Tondo}} 2.4%
**{{flag|South Vietnam}} 2.0%
**{{flag|Thailand}} 0.6%
**Other ASEAN members 0.7%
*{{flag|Japan}} 3.3% 
*{{flag|India}} 2.5%
*{{flag|Korea}} 2.2%
*Others 4.4%
|FDI                 = {{DOWN}} $1.08 trillion (2024)
|debt                = {{IncreaseNegative}} $9.1474 trillion<br>{{IncreaseNegative}}101.1% of GDP (Q1 2024)
|gross external debt = 
|revenue             = {{UP}} $2.035 trillion<br>22.5% of GDP(2024)
|expenses            = {{IncreaseNegative}} $2.32 trillion<br>25.6% of GDP<br>(2024)
|reserves            = {{UP}} $303 billion (2024)
|aid                 = {{DOWN}} $101 billion (2024)
|credit              = 
[[Von Holt Credit]]<br>AAA (Domestic)<br>AAA (Foreign)<br>AAA (T&C Assessment)<br>Outlook: Stable<hr>
[[Andersons-Moore]]<br>AAA (Domestic)<br>AAA (Foreign)<br>AAA (T&C Assessment)<br>Outlook: Stable
|spelling            = US
|presentUS$asdefault = no
|footnote            = ''All values, unless otherwise stated, are in [[Sierran dollar|KS dollars]]''.
}}

The [[Kingdom of Sierra]] is a {{W|Developed country|highly developed}} {{W|social market economy}}. It is the [[List of countries by GDP (nominal) (Altverse II)|fourth-largest economy in the world by nominal GDP]] and also the [[List of countries by GDP (PPP) (Altverse II)|fourth-largest economy in the world by purchasing power parity (PPP)]]. It has the world's [[List of countries by GDP (nominal) per capita (Altverse II)|third highest per capita GDP (nominal)]] and the [[List of countries by GDP (PPP) per capita (Altverse II)|fourth highest per capita GDP (PPP)]]. The Kingdom of Sierra accounts for approximately 10% of the global economy in nominal terms, and about 7% in PPP terms. 

The Kingdom of Sierra has one of the world's most globalized economies, and comprises [[Economy of Sierra|Federal Sierra]], [[Economy of Bajaría|Bajaría]], the [[Economy of the Deseret|Deseret]], and [[Economy of Hawaii|Hawaii]]. In 2024, the Kingdom of Sierra's trade with other member economies within the [[Conference of American States]] (CAS) accounted for 55.5% of its exports and 47.8% of its imports, with [[Astoria]], [[Brazoria]], and [[Superior]] being its largest CAS trade partners. Outside the CAS, the Kingdom of Sierra's largest trade partners are the [[United Commonwealth]], [[China]], [[Japan]], and [[Mexico]]. Other significant trade partners include the [[United Kingdom]], [[Germany]], [[Russia]], [[Korea]], [[South Vietnam]], [[Tondo]], and [[India]]. As a member of the [[American Single Market]] and the [[American Customs Union]], it has eliminated trade barriers and implemented free trade with other participating CAS member states. In addition, it has several free trade agreements with other countries, including the [[Antilles]], [[Ethiopia]], [[Eureka (country)|Eureka]], the [[Federated Emirates of Arabia|Federated Emirates]], [[Guyana]], Japan, Korea, South Vietnam, and Tondo. The [[Sierran dollar]] is the most widely used currency in international transactions and is the world's {{W|reserve currency}}, backed by a [[Ministry of Finance (Kingdom of Sierra)|comprehensive and highly-diversified treasuries market]]. The Sierran dollar is also the official currency in several other countries, notably among [[Columbia realm]] nations, and is the {{W|de facto currency|''de facto'' currency}} in more countries elsewhere. Several currencies are also {{W|Fixed exchange rate system|pegged}} to the Sierran dollar, including the [[Alaskan dollar]], the [[Emirati dinar]], and the [[Palestinian dinar]]. Since the [[Great War]], the Kingdom of Sierra has enjoyed relatively steady growth, low unemployment and inflation, and significant advancements in technology, infrastructure, and transportation. The Kingdom has enjoyed a leading role in the global economy, particularly among advanced Western, capitalist-based economies under the [[Simi Valley system]], as one of the world's economic superpowers.

The Sierran economy is characterized by a well-developed transportation infrastructure system consisting of road, rail, and air, a highly productive workforce, and extensive natural resources. It has a highly efficient and strong [[Social programs in the Kingdom of Sierra|social security system]], which comprises 30% of the country's GDP. The K.S. labor market is flexible and efficient, with tepid labor standards which result in relatively low {{W|job security}} and modest organized labor participation.

The [[Porciúncula Stock Exchange]] is the world's largest stock exchange by market capitalization and trade volume, and the Kingdom of Sierra has the third-largest gold reserve, with over 5,000 tonnes of gold. Its economy is ranked first in international ranking on venture capital and ranked sixth in overall ease-of-doing business. It has the world's second largest consumer market, where consumer spending comprises over 75% of the Kingdom's economy. Due to its historically lenient and lax immigration policies, the Kingdom's labor market is represented by immigrants worldwide and its net migration rate is among the highest in the world.

==History==
{{Main|Economic history of the Kingdom of Sierra}}

===Colonial era===
[[File:Vue_de_l'etablissement_russe_de_la_Bodega,_à_la_Côte_de_la_Nouvelle_Albion,_en_1828_(restored).jpg|thumb|175px|left|The fur trade in colonial Sierra was prevalent in colonies such as [[Fort Ross, Plumas|Fort Ross]]]]
Prior to the arrival of European explorers and colonists, the Sierran Amerindians engaged in trade between tribes and people groups. Trade was based around commodities such as fur pelts, seashells, baskets, ceremonial items, cooking items, and other items of value. 
[[File:Primitive_plow.jpg|thumb|175px|left|Sierran Amerindians depicted utilizing a primitive plow to prepare a field for planting near Mission San Diego de Alcalá]]
The modern economic history of the Kingdom of Sierra began initially with the Spanish, French, Dutch, and Russian settlements along the Pacific coast between the 17th and 19th centuries. The Spanish settlements were by far the most numerous and commercially successful of the European colonies, and was well-integrated with the {{W|Manila galleon}} system during the {{W|Age of Sail}}. The Spanish colonies in present-day Sierra, then known as [[The Californias]], engaged in trade and commerce with other {{W|New Spain|New Spanish}} colonies elsewhere in the Americas and in Asia, particularly with [[Tondo]] and [[China]]. For much of the Kingdom's colonial history, the local economy was overwhelmingly agrarian in nature, with ranching, subsidence farming, fishing, and logging being the main industries. 

The Spanish missions, presidios, and pueblos were the centers of colonial trade, and heavily relied on [[History of slavery in the Kingdom of Sierra|forced Amerindian laborers]]. At the peak of Spanish missionary work, an estimated 90,000 Amerindians lived and worked on missions throughout the Californias, effectively as ''de facto'' slaves. Under the strict order and regimen of the {{W|Franciscans}}, Amerindian ''neófitos'' ("neophytes") were expected to work under the supervision of the Franciscans and Spanish soldiers. About ninety days of the year however, in keeping of religious festivals and feasts associated with the Catholic {{W|liturgical year}}, and of Spanish civil holidays, the Amerindians were free from manual labor. Farming was the main industry in Spanish missions and their adjourning lands. Barley, maize, and wheat were the most common crops grown, and the Spanish missionaries introduced Old World fruits to the Californias including oranges, grapes, apples, peaches, pears, and figs. Ranching was the second most common industry as cattle and sheep were introduced into the region. Goods and products related to agriculture and husbandry were also created, such as leather and tallow-based products (i.e. soap, candles, grease, and ointments), and wools for clothing. The Spanish missionaries taught the Amerindian population how to utilize Spanish construction and toolmaking skills, including smelting and blacksmithing. In northern [[Alta California]], the Dutch and Russian colonists who settled there engaged in the fur trade business, trapping and hunting mammals including raccoons, beavers, deer, and bears for their fur.

===19th century===

Following [[Mexico]]'s independence from Spain, the Californias remained a predominantly backwater society, centered around a landed gentry of Californios who owned the vast majority of the territory's [[Ranchos of the Kingdom of Sierra|ranchos]]. The pueblos of [[Porciúncula]], [[Grands Ballons]], and [[San Diego]] were the principal, emerging metropolitan economies in the otherwise rural region. The arrival of Anglo-American settlers in northern and central Alta California further bolstered agriculture in the region, shifting away from the ranching common among the Californio ''{{W|vaquero}}s'' towards crop production and cultivation. After the [[California Republic]] gained independence after the [[Mexican–American War]], extensive deposits of natural gold were found, and the country experienced a [[California gold rush|gold rush]] which dramatically increased the regional population and accelerated the national economy. Tens of thousands of migrants scrambled into California, resulting in the rapid expansion of northern Californian cities such as [[San Francisco City]], [[Sacramento, Tahoe|Sacramento]], and [[New Rotterdam, Plumas|New Rotterdam]], and the emergence of {{W|boomtown}}s.

The gold rush lasted from 1848 to 1855, of which only a minority of prospectors or "forty-niners" profited greatly from the mined gold, while the fortunes of the vast majority did not substantively change. Once the majority of goldmines were exhausted and mining activity dwindled, a significant number of foreigners decided to settle in California, rather than return home. Cities such as San Francisco City and Sacramento saw great demand for both unskilled and skilled laborers as the Californian manufacturing industry boomed. The abundance of fertile, irrigable land and favorable, year-round weather in the Central Valley also supported a strong agriculture industry. The Californian government undertook comprehensive measures to improve the nation's infrastructure and transportation, further transforming California into a thriving economy. During the 1850s under the California Republic, northern California experienced the benefits of industrialization, while southern California, the regions of Nevada and Arizona, and the territories of Baja California and Sonora remained predominantly agricultural and rural-based. Following the establishment of the Kingdom of Sierra in 1858 and major advances in transportation, including the creation of transcontinental railroads (such as those managed by the [[Royal Pacific Railroad]]) linking the Kingdom with the [[United States (Altverse II)|United States]], helped stir greater investment and diffuse industrialization into these areas.

===20th century===

===21st century===

==Data==
{{Economy of the Kingdom of Sierra sidebar}}
The following table shows the main economic indicators in 1980–2022 (with IMF staff estimates in 2023–2028). Inflation under 5% is in green.

{| class="wikitable" style="text-align:center;"
!Year
!GDP
<small>(in Bil. KS$ PPP)</small>
!GDP per capita
<small>(in KS$ PPP)</small>
!GDP
<small>(in Bil. KS$ nominal)</small>
!GDP per capita
<small>(in KS$ nominal)</small>
!GDP growth
<small>(real)</small>
!Inflation rate
<small>(in Percent)</small>
!Unemployment
<small>(in Percent)</small>
!Government debt
<small>(in % of GDP)</small>
|-
|2024
|{{Increase}}9,048
|{{Increase}}101,623
|{{Increase}}9,048
|{{Increase}}101,623
|{{Increase}}3.0%
|{{DecreasePositive}}3.0%
|{{DecreasePositive}}4.1%
|{{IncreaseNegative}}101.1%
|-
|}

==GDP==

The nominal GDP of the Kingdom of Sierra in 2024 (at the beginning of the 2024–25 fiscal year) was $9.0479 trillion, the 4th largest in the world, after [[China]], the [[United Commonwealth]], and [[India]]. Approximately 75% of the Kingdom of Sierra's total GDP is personal consumption, followed by 13% from private investment, and 12% from government (federal, national, provincial, and local but excluding transfer payments such as Social Security or [[Federal Employees' Retirement and Pension System|FERaPS]]). The GDP includes net exports at negative 1 percent due to the K.S. trade deficit outside the CAS [[American Single Market]].

==Employment and labor law==
{{Main|Labor law in the Kingdom of Sierra|Collective bargaining in the Kingdom of Sierra}}

In 2024, there were approximately 54.5 million people in the K.S. labor force, the largest labor force in the CAS and the 9th largest in the world. The government (federal, national, provincial, and local) employed 8.25 million. Small businesses collectively form the largest employer, representing 35% of the country's workers, followed by large businesses and firms employing 33% of Sierran workers. {{W|White-collar worker}}s comprise 47% of the workforce, while 35% of Sierran workers were either {{W|blue-collar worker|blue-}} or {{W|pink-collar worker|pink-collar}} workers.

The {{W|private sector}} employs 84% of of working Sierrans, while the government (including the [[Sierran Crown Armed Forces|military]] employs 15% of all K.S. workers. The remaining 1% of employed Sierrans include those who are {{W|self-employment|self-employed}} or working for the {{W|voluntary sector}}. The overwhelming majority of registered private sector employers (>99%) are small businesses or are franchisees not directly owned by a large business.

===Labor unions===
{{Main|Labor unions in the Kingdom of Sierra|Labor history in the Kingdom of Sierra}}
{{Further|Union violence in the Kingdom of Sierra|Anti-union violence in the Kingdom of Sierra}}

[[Labor unions in the Kingdom of Sierra]] have been integral part of the Sierran economy. The history of the Sierran labor movement traces its origins to the workers' rights movement during the late 19th century. The activities and rights of labor unions have been protected by federal law since 1925 following the passage of the [[National Labor Reform Act of 1925|National Labor Reform Act]]. Most labor unions in the Kingdom of Sierra are affiliated with one of the four {{W|national trade union centre|national trade union centers}}, of which the largest is the [[SFI–CLO]] and represents [[Sierra|Federal Sierra]]. All four are members of the [[NACL–FIO]], an international federation of unions in [[Anglo-America]] and a member of the [[International Trade Union Confederation|ITUC]]. The leadership and membership of unions have held a wide spectrum of views, including [[Landonism|Marxist–Landonism]], [[Socialism in the Kingdom of Sierra|socialism]], [[Liberalism in the Kingdom of Sierra|liberalism]], and [[Conservatism in the Kingdom of Sierra|conservatism]]. 

The SFI–CLO is the largest advocate for workers' rights and interests in the Kingdom of Sierra. Its main rival is the [[Independent Workers Federation|IWF]], which has an explicitly anti-capitalist stance. Both organizations and other regional labor union confederations are involved in Sierran politics. The strength of labor unions have waxed and waned throughout Sierran history. Union membership was at its peak prior to [[Great War II]] and began to steeply decline into the early 21st century. Although the SFI–CLO has traditionally been aligned with the [[Democratic-Republican Party of Sierra|Democratic-Republicans]], it has become increasingly supportive of the [[Social Democrats of Sierra|Social Democrats]]. Following the Social Democrats' electoral victory in [[2020 Sierran federal election|2020]], union membership and strength increased under the pro-union policies of the Social Democratic government, especially during the [[COVID-19 pandemic in the Kingdom of Sierra|COVID-19 pandemic]].

Historically, the percentage of workers belonging to a labor union or total labor union density has been high. At its peak in 1964, nearly 45% of the Kingdom's workforce was unionized. In 2020, it sat at only 9.6%, one of the lowest trade union densities among OECD nations. While a third of Sierran public sector employees were unionized, less than 10% of private sector employees were unionized. Since COVID-19 pandemic, the declining trend in Sierran union membership has reversed, propelled by pro-labor policies and revitalized labor activism. As of 2024, unionization rates grew to 16.5% nationally. Sierran union members are disproportionately older, male, and residents of Sierran coastal areas and the [[Styxie]]. Compared to their non-unionized counterparts, unionized employees earned an average of 10-15% higher after all other considerations were factored in.

===Unemployment===
{{Main|Unemployment in the Kingdom of Sierra}}

As of September 2024, the national unemployment rate in the Kingdom of Sierra was 4.1% or 2.2 million people. When including part-time {{W|underemployment|underemployed}} people, the rate is 8.2% or 4.4 million people. These figures are based off of the Kingdom of Sierra's civilian labor force. The historical average rate of unemployment between the end of the [[Great War]] and 2024 is 5.5%. The [[Ministry of Commerce and Labor]] publishes a monthly report with key statistics and commentary on the unemployment rate and trends. According to the Ministry of Commerce and Labor, those who are classified as unemployed include anyone aged 16 or older who are without work and are available to work within the next two weeks, and has been job seeking for at least four weeks. Those who do not meet this criteria are classified as "economically inactive", such as individuals without work who desire to work, but are unable to due to reasons such as disability or sickness.

[[Unemployment insurance in the Kingdom of Sierra|Unemployment benefits]] are available to those who have participated in unemployment insurance payments during the course of their employment, and qualify in accordance to the relevant jurisdictional laws concerning such benefits. Each PSA manages their own unemployment benefits, although the federal government has periodically offered its own supplemental federal unemployment benefits temporarily. The most recent instance occurred during the [[COVID-19 pandemic in the Kingdom of Sierra|COVID-19 pandemic]] when the K.S. Parliament authorized the K.S. government to administer an emergency federal unemployment benefits program to eligible individuals who filed unemployment insurance claims.

==Income and wealth==
{{Main|Income in the Kingdom of Sierra|Affluence in the Kingdom of Sierra}}

===Income inequality===
{{Main|Income inequality in the Kingdom of Sierra}}

===Homeownership===
{{Main|Homeownership in the Kingdom of Sierra}}

===Profits and wages===

===Poverty===
{{Main|Poverty in the Kingdom of Sierra|Homelessness in the Kingdom of Sierra}}

==Economic sectors==

===Primary===

====Agriculture====
{{Main|Agriculture in the Kingdom of Sierra|Beer in the Kingdom of Sierra|Fishing in the Kingdom of Sierra|Wine of the Kingdom of Sierra}}

====Energy====
{{Main|Energy in the Kingdom of Sierra|Renewable energy in the Kingdom of Sierra}}

====Mining====
{{Main|Mining in the Kingdom of Sierra}}

===Secondary===

====Manufacturing====
{{Main|Manufacturing in the Kingdom of Sierra|Electronics industry in the Kingdom of Sierra}}

====Automotive====
{{Main|Automotive industry in the Kingdom of Sierra}}

====Iron and steel====
{{Main|Iron and steel industry in the Kingdom of Sierra}}

===Tertiary and quaternary===

====Services====
{{Main|Banking in the Kingdom of Sierra|Communications in the Kingdom of Sierra|Financial services in the Kingdom of Sierra|Insurance in the Kingdom of Sierra|Telecommunications in the Kingdom of Sierra}}

====Education====
{{Main|Education in the Kingdom of Sierra}}

====Tourism====
{{Main|Tourism in the Kingdom of Sierra}}

====Gambling====
{{Main|Gambling in the Kingdom of Sierra}}

====Entertainment====
{{Main|Cinema of the Kingdom of Sierra|:Category:Sierran music industry}}

==International trade==
{{Main|Foreign trade of the Kingdom of Sierra|List of tariffs in the Kingdom of Sierra}}

==Currency and central bank==
{{Main|Sierran dollar|Royal Monetary Authority of the Kingdom of Sierra}}
[[File:Royal_Monetary_Authority_of_Sierra_Building.jpg|thumb|250px|Central headquarters of the RMAS]]
The [[Sierran dollar]] (K.S. dollar) is the {{W|legal tender}} and unit of currency in the Kingdom of Sierra and its territories. Globally, the K.S. dollar is the most widely used currency in international transactions. Several countries, including all of the [[Columbia realm]] nations (i.e. [[Cozumel]], [[Guam]], and the [[Northern Mariana Islands]]), use the K.S. dollar as their official currency. Many other countries use the K.S. dollar as their unofficial currency, and other countries' currencies are pegged to the K.S. dollar. The primary banknote {{W|denomination (currency)|denominations}} used are: $1, $2, $5, $10, $20, $25, $50, $100, $200, and $500. Larger banknotes valued at $1,000, $2,000, $5,000, and $10,000 remain legal tender but circulation has discontinued. The Sierran dollar also includes coins, with the most frequently used denominations being: 1¢, 2¢, 5¢, 10¢, 20¢, 25¢, 50¢, and $1. Under the [[Simi Valley system]], the Sierran dollar is the most important {{W|reserve currency}} used among the Western world, and elsewhere. 

The [[Royal Monetary Authority of the Kingdom of Sierra]] (RMAS) is a [[gentrified trust]] and the {{W|central bank}}ing system of the [[Kingdom of Sierra]]. Through the [[Royal Bank of Sierra]], the RMAS issues Sierran banknotes, and through the [[Royal Mint of the Kingdom of Sierra|Royal Mint]], the RMS mints Sierran coins. The Central Banking Act is the principal document governing the RMAS' core powers and responsibilities, among them including the discretionary power to control the Kingdom's {{W|monetary policy}}, to supervise and regulate the Kingdom's bank system, and to maintain the Kingdom's financial stability. Through subsequent acts granted by [[Parliament of the Kingdom of Sierra|Parliament]], the RMAS is also responsible for providing financial services to {{W|depository institution}}s, the K.S. government, and foreign government institutions. 

Organizationally, the RMAS is governed by the [[Royal Monetary Authority Board of Governors]] whose members are appointed by the [[Monarchy of the Kingdom of Sierra|Queen]], based on the recommendation of the [[Prime Minister of the Kingdom of Sierra|Prime Minister]] and consent of the [[Senate of the Kingdom of Sierra|Senate]]. The RMAS is further divided into three regional nationally-chartered banks: the [[Federal Bank of San Francisco City]] (Western Federal Sierra and [[Hawaii]]), the [[Federal Bank of Phoenix]] (Eastern Federal Sierra and the [[Deseret]]), and the [[Federal Bank of Tijuana]] ([[Bajaría]]), each empowered with regulating privately-owned banks within their jurisdiction. As a gentrified trust, the majority of its policymaking and discretionary actions are done independently without the direct approval or control by the federal government. Despite its relative degree of independence and autonomy, it works closely with the K.S. Government and Parliament, especially the [[Ministry of Finance (Sierra)|Ministry of Finance]].

==Law and government==

===Regulations===
{{Main|Sierran administrative law}}

===Taxation===
{{Main|Taxation in the Kingdom of Sierra}}

[[Taxation in the Kingdom of Sierra]] is a comprehensive, complex system where taxes are levied by the [[Government of the Kingdom of Sierra|federal government]], the [[Provincial governments of Sierra|provincial, state, areal]], and local governments. The Kingdom of Sierra receives taxation revenue from a variety of sources, with the most significant sources coming from {{W|income tax}}, [[Social Security (Kingdom of Sierra)|Social Security]] contributions, {{W|corporate tax}}, {{W|property tax}}, {{W|land value tax}}, {{W|sales tax}}, and {{W|capital gains tax}}. Other sources of taxation include taxes on real property transfers, estates, gifts, dividends, imports, excise, payroll, use, and fees. As of 2024, tax revenue was 22.5% of the country's GDP.

The [[Constitution of Sierra|Constitution]] and the [[Charter for the Kingdom of Sierra|Charter]] provide the foundational legal bases for taxation in the Kingdom of Sierra. Generally, K.S. taxation policies are structured {{W|progressive tax|progressively}}, based on a sliding scale of taxable income or value. The lowest earning workers are generally exempt from paying taxes, and may qualify for government subsidies in the form of tax credits or {{W|negative tax income}} instead. Tax deductions, allowances, credits, certain expenses, and exemptions allow both individuals and entities to reduce their tax liability or taxable income. Worldwide income is taxed for all [[Citizenship in the Kingdom of Sierra|K.S. citizens]], regardless of residency. Both nonresident and resident foreigners are generally liable for K.S. federal and local direct taxes under most conditions. As a member of the [[Conference of American States]] (CAS), the Kingdom of Sierra has entered into {{W|Tax information exchange agreement|multilateral tax information exchange agreements}} with fellow member states to eliminate {{W|double taxation}} among CAS citizens and to combat {{W|tax evasion}}. 

At the federal level, taxes are collected and administered by the [[Internal Revenue Authority of the Kingdom of Sierra]] (IRAKS), an agency of the [[Ministry of Finance (Kingdom of Sierra)|Ministry of Finance]]. The Internal Revenue Code is the primary source of federal legislation governing federal taxation. At the national and provincial levels, each jurisdiction collects their own taxes and sets their own taxation policies and schemes, separate from the federal government.

===Expenditure===
{{Main|Sierran federal budget|Government spending in the Kingdom of Sierra|National debt of the Kingdom of Sierra}}
{{See also|Social programs in the Kingdom of Sierra|Social Security (Kingdom of Sierra)}}

==Notable companies and markets==
{{Main|Von Holt 100|Von Holt 500}}
{{Further|List of largest companies in the Kingdom of Sierra by revenue}}

==List of national, provincial, state, areal, and territorial economies==
;National economies
*[[Economy of Bajaría]]
*[[Economy of the Deseret]]
*[[Economy of Hawaii]]
*[[Economy of Sierra]]

;Provincial, state, areal, and territorial economies
{{Columns-list|colwidth=25em|
*[[Economy of Apache]]
*[[Economy of Bénieîle]]
*[[Economy of Cancún]]
*[[Economy of Cornerstone]]
*[[Economy of Central Valley]]
*[[Economy of Channel Islands]]
*[[Economy of Clark]]
*[[Economy of Cornerstone]]
*[[Economy of East Leewards]]
*[[Economy of Emery]]
*[[Economy of Eureka (province)]]
*[[Economy of Flagstaff]]
*[[Economy of the Gilbert and Ellice Islands]]
*[[Economy of the Gold Coast]]
*[[Economy of Hawaii (state)]]
*[[Economy of Honolulu]]
*[[Economy of Imperial]]
*[[Economy of the Inland Empire]]
*[[Economy of the Isles of Pines]]
*[[Economy of Iron]]
*[[Economy of Juab]]
*[[Economy of Kamehameha]]
*[[Economy of Kauai]]
*[[Economy of Kings]]
*[[Economy of Laguna]]
*[[Economy of Maricopa]]
*[[Economy of Maui]]
*[[Economy of Mérida]]
*[[Economy of Morganland]]
*[[Economy of Mohave]]
*[[Economy of New Oneida]]
*[[Economy of Oahu]]
*[[Economy of Orange]]
*[[Economy of Plumas]]
*[[Economy of Pacífico Norte]]
*[[Economy of Pacífico Sur]]
*[[Economy of Rapa Nui]]
*[[Economy of Reno]]
*[[Economy of Saint Andrews, Providence, and the Corn Islands]]
*[[Economy of San Francisco]]
*[[Economy of San Joaquin]]
*[[Economy of Santa Clara]]
*[[Economy of Shasta]]
*[[Economy of Sierran Samoa]] 
*[[Economy of Sonora]]
*[[Economy of South Sonora]]
*[[Economy of Sweetwater]]
*[[Economy of Tahoe]]
*[[Economy of Wasatch]]
*[[Economy of Washumko]]
*[[Economy of West Colorado]] 
*[[Economy of West Leewards]]
*[[Economy of West New Mexico]]
}}

==See also==

*[[Economy of the Conference of American States]]
*[[Housing in the Kingdom of Sierra]]
**[[Public housing in the Kingdom of Sierra]]
*[[Minimum wage in the Kingdom of Sierra]]
*[[Universal basic income in the Kingdom of Sierra]]
{{Economy of the Kingdom of Sierra}}
{{Kingdom of Sierra topics}}
{{Sierra life}}
{{North America topic|Economy of}}
[[Category:Economy of the Kingdom of Sierra]]
[[Category:Conference of American States member economies]]
[[Category:OECD member economies]]
[[Category:World Trade Organization member economies]]
[[Category:Economies of North America by country]]
[[Category:Economies of North America]]