Everything about Novanuki! (In progress)

The Honourable Principality of Novanuki

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National Summary

Etymology

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History

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Demographic

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Population

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Religion

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Government

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Foreign Relations

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Economy

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The economy of Novanuki is driven primarily by the private sector. It is a highly developed, industrialized economy with strong manufacturing and service sectors. The rest (around 15-20 percent) is public, with an estimated 5 percent of companies being state-owned. There is a robust manufacturing sector, accompanied by strong tourism, arms manufacturing, book publishing, and automobile, industries. The relatively low tax rate is on average around 30 percent (flat tax). Novanuki is part of the Sweeter-Forel Pact with Kingdom of Penkovstvo which essentially means that the aforementioned nation is economically a part of Novanuki. The two nations place joint tariffs on other nations and practice a policy of overall mercantilism and protectionism on other countries, promoting both of the countries industry. Novanuki’s main trading partners (in order), are thus,
1. Kingdom of Penkovstvo
2. Sociedade de Nisyales
3. North Bulgaristan
Novanuki has a strong uranium sector, which means we power all our country with nuclear plants and additionally export our uranium to other countries.

Novanuki initially had quite a backwards, unindustrialized economy, relying primarily on cheap agricultural labor. After the royal family retook power and established its new government, it focused on strengthening the manufacturing sectors and industrializing the nation. Novanuki experienced strong and fast economic growth for several decades after the first major economic crash which took the nation a few years to recover from. Once the recovery fully took off, the economy unexpectedly crashed again, this time recovering almost instantly. To this day, the economy grows at a strong pace relying on the aforementioned sectors.