Economy of Europa
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The Economy of Europa is one of the largest economies in the world and Europe. It's economy is varied and involved in various economic centers and is among the most stable in the world. It's currency, the Europan Lira, has floated between 1.95 and 2 Dollars per Lira since 1995.
| Economy of Europa | |
|---|---|
| Currency | Europan Lira (ENL) |
| Fiscal year | 1 April – 31 March |
| Trade organisations | WTO, OECD, G20, ETA and others |
| Statistics | |
| GDP | 4,28 trillion (2010) |
| GDP growth | 2.95% (2010) |
| GDP per capita | L. 20.970 (US$42,800, 2010) |
| GDP by sector | Services: 64.7%, technology: 22.1%, manufacturing 11.8%, 1.4% (2011) |
| Inflation (CPI) | 1.1% (2011) |
| Population below poverty line | 3.8% (after taxes) |
| Gini index | 29.1 |
| Unemployment | 1.9% (2011 est.) |
| External | |
| Ease of Doing Business Rank | 6th |
| Exports | $702 billion (2011 est.) |
| Main export partners | France (21%), United Emirates (18%), Union of Everett (15%), Skandinavia (11%), Allied States of America (11%), West Germany (7%), Spain (6%) Euskadi (4%), Union of Benelux (4%), other (3%) |
| Imports | $328 billion (2011 est.) |
| Main import partners | Union of Everett (22%), East Asian Federation (15%), Allied States of America (14%), France (11%), West Germany (9%), Spain (8%), China (6%), United Kingdom (5%), Euskadi (4%), United Emirates (3%), 3% (other) |
| Public finances | |
| Economic aid | L.10 billion (US$ 19.8 billion) |
| All values, unless otherwise stated, are in US dollars | |
History
Europa began a massive economic growth in the 1950s and 1960s. Early on the majority of the manufacturing centers, which led to a north-side divide, where southern regions were at a disadvantage economically. The government responded in the 1960s by moving many state-owned facilities to the south, in regions such as Naples, Sicily and Albania. Soon private initiatives moved their facilities to the south, bolstered by government incentives and by 1971 66% of manufacturing was based in the southern provinces of Europa.
Industries
Agriculture
Europa is a large agriculture nation and one of the biggest in Europe, though behind the DDR, France and the USSR. The vast majority of agricultural land (72%) is used for growing wheat, vegetables and grains. These are often used for making pasta, breads and baked goods. 6% of farmland is used for growing olives, 11% wine (Europa is the world's top wine producer). The rest is used for cattle and animals, citrus and Tomato growth, which has grown substantially since the late 1970s.
Manufacturing
In the post-war period, Europa was transformed from an agricultural based economy which had been severely affected by the consequences of World War II, into one of the world's most industrialized nations, and a leading country in world trade, manufacturing and exports. In the 1950s there was huge government investment in manufacturing facilities and there was an economic boom.
Automobiles
Manufacturing in automobiles became very important, and companies such as Alfa Group and Fiat Group grew in size and importance, with Alfas (and ALSAs) being among the most common cars in third world countries. Europan cars were exported heavily since the early 1970s and they became very accessible to people in developing economies like South America and France.
Weaponry
Due to the heavy investment in the military, arms-related manufacturing became quite important. Europa specialized in military vehicles, weapons and light arms. Companies like Beretta S.p.A. and Benelli are at the forefront of military technology, even producing robots with combat capabilities.
Other
Other manufacturing is focused on high-end electronics, musical instruments and kitchen appliances.
Media
Media has become a very large industry in Europa. Europan news networks are generally considered to be the best and most insightful when it comes to analysis of breaking news and ongoing events. The Europa Press Agency is one of the largest news presses in the world, alongside Reuters and Agence France-Presse. THe largest papers in the country are Politika, which is printed in 5 languages and circulates throughout central Europe and 24 Ore.
Green energy
See also: Energy in Europa
Due to the country having various social-democrat and liberal parties in power, "green development" took an ever-expanding role in the economic affairs of the nation. Europa is now the fourth largest solar energy producer and the fifth largest producer of wind power. Alternative fuel sources such as Biogasoline were developed. Europa produces 25% of the worlds biogasoline and is reponsible for refining over 34% (as of 2011). There have also been massive investment in wind turbines, solar energy and some hydroelectric projects, though these have been reduced from 29% of energy sources in 1985 to about 15% in 2008. There was significant opposition to spending millions of Lira on relatively unknown technologies, but over time this has paid off and Europa is now one of the most innovative and important nations in green industry. In 2004, a new Energy Law (Green Energy Assistance Act) brought the possibility of joint ventures with foreign companies to build green energy facilities abroad. Europan companies are now present in over 20 countries in South America, Sub-saharan Africa and throughout Asia, helping the governments in the reduction on dependence in oil and increase a consumption of renewable energies (In the United Emirates, Europan companies were extremely successful and have reduced their dependence on finite oil resources from over 60% in the 1990s to just under 25%.
Banking and finance
Europa began diversifying its economy in the late 1960s into banking and financial sectors. Europa's stability in the period of 1965-1990 and from the 200s onwards have allowed it to become a major banking center. Banks such as UniCredit and Monte dei Paschi di Siena grew to become among the largest in Europe. Zagreb and Milan have established themselves as the economic centers of Europe and their stock markets (primarily Zagreb's) are one of the largest in the world. Zagreb is now, alongside New York, Hong Kong and London, one of the main financial centers of the world.
Tourism
Tourism is an ever-growing sector of the economy in Europa. Cities such as Rome, Florence and Dubrovnik take in thousands of tourists daily and the vast amount of sites naturally help it to be the second most visited country in Europe, behind France. Tourism also helps out the restaurant and hotel industries and is a huge boost to the service sector.
Organized crime
Organized crime still represents a sizable segment of the Europan economy . The Confesercenti reported that organized crime generated €140 billion in gross sales, an estimated annual profit of €100 billion, and boasted estimated cash reserves of €65 billion. Since the 1980s the government has been cracking down on the mafia, with stiffer penalties, heightened security and regulation. As such, the mafia has concentrated on smuggling "banned goods" to East Bulgaria and the Deutsche Demokratische Republik.
Labor and welfare
Labor
Unlike it's neighbor France, Europa has largely avoided high unemployment and labor issues. In the 1990s the volatile economic situation led to strikes, labor unrest and a spike in unemployment to around 11%. Since then there has been a steady unemployment rate of about 1.7-2.3%. In Europa there is a large participation in labor unions. During times of economic weakness the government has employed benefits to companies who are hiring people on a short-term basis who are at a disadvantage (usually immigrants and youth) and such programs have a re-hiring rate of about 70-74%. The government will also hire people in temporary jobs to help alleviate those in unemployment.
Welfare
To combat poverty and to prevent an economic slump, Europa began introducing a large and comprehensive welfare system. This consists of unemployment insurance benefits and payments to people who have been laid off. The government, in order to ensure the most use of that funding has also set up programs to assist people in finding new jobs, by retraining or by having them work in the civil engineering sectors. Working with such companies like Lamborghini Construction they have been able to get many people in the trades and engineering sectors working on large infrastructure programs, like fixing the autostrada and construction of public facilities.