The economy of Glanodel
is a developed, mixed economy that is predominantly composed of the private sector. Its currency is the Gilder, which is pegged to the USD. Although it is only the second-most populous nation in Lhedwin, Glanodel sports the largest Lhedwinic economy and is consistently ranked among the five wealthiest countries in Aeia
by GDP per capita. It is also frequently ranked among the top ten most stable.
The Glanish economy is fueled by a service sector dominated by the financial, entertainment, insurance and tourism industries, as well as featuring a knowledge-intensive and export-oriented manufacturing sector. Glanodel remains a major producer of copper and iron ore, natural gas, petroleum, and timber. Glanodel's manufacturing sector accounts for 50% of output and exports, while exported services account for a third of exports. While Glanodel is one of the smallest importers in Aeia by total amount and value of imports, Glanodel is one of the largest importers of goods as a percentage of GDP and the largest of Asuran nations. Agriculture accounts for 2% of GDP and employment.
Globalization and free trade have retained strong support among the Glanish population since the mid-1900s. As a result, the Glanish economy benefits greatly from foreign investments, upon which its economy has grown increasingly dependent. Glanodel claims one of the highest numbers of multinational corporate headquarters in Aeia. In addition to major domestic companies, the country hosts multinational companies such as Glanish Airlines, Graylund Insurance Group, and the musical instrument Nørgaard Group. Most companies based out of Glanodel are small to medium-sized, mostly family-owned, enterprises, a Glanish economic tendency that has resulted in a revival of "félag", an Old Dalish term referring to a joint financial venture.
The country ranks highly in labour rights, and roughly half of its employed population — some 3 million — are members of trade unions. Glanodel has one of Aeia's highest ratios of tertiary degree holders, as well as a high level of social mobility. Compared to most Asuran nations, Glanodel has one of the lowest overall tax burdens. (More...)