Finance NewsA look into 85 years of Beiteynuese imports/exportsMarch 5285 - As the Central Bank of Beiteynu releases some preliminary data as part of the upcoming fiscal report
Also published on The Terran Times and distributed internationallyTel Bira, Beiteynu - The major components of the economic framework behind Beiteynu's trade network of imports and exports are undoubtedly the Accord of Trade released in 5248 (and the Accord of Partnership) and the Equifund Agreement previously released in 5227 with a starting 500M LOD investment capital which has been replenished each year by Beiteynu's continuous surplus since the mid 60s. The single exception to this rule is the
Dorvish Trade Association and Economic Pact, which has been solidly in place since 4200 (almost 10 centuries ago), quickly identified by the Tzafrir Administration in
5200 as a critical proponent of Beiteynu's economic recovery plans enacted by Baruch Lea Tzafrir in the first 2 decades of this century.
Beiteynu's imports from Dorvik amounted to a total of 29.7B LOD (annual average) for the first half of the century, with imports including computer and information services, integrated circuits, microprocessors, raw materials (ex. gold and silicon), timber and timber-related products, medical equipment and instruments, petroleum based products, various consumer products and various business related services, including travel and transportation. With Beiteynu's re-entry into the international stage over the course of the last - in their majority mostly stable - decades since 5210, the newly reformed diplomatic and trade frameworks have allowed the country to either decrease its imports from Dorvik by investing in its internal industries and/or redirect them to its other most notable trade partners from Majatra (Kafuristan, Pontesi, Istalia), Keris (Trigunia) and Artania (Dundorf and Kundrati). Although the preliminary data does not include the new metrics on the Beiteynuese-Dorvish net trade, the Dorvish example is of significant importance for the upcoming fiscal report of the Central Bank of Beiteynu in pinpointing the primary markers of the overall transition that Beiteynu has undergone over the course of the last 85 years into its own independent international network.
The earliest markers of this ongoing transition can be seen as early as the
Malivian agreement on commercial flights early 5210s and the
Istalo-Beiteynuese production of the IBAE-400, although both the Equifund launched in 5227 and any early attempts at international commerce did not do much to impact Beiteynu's growth rate, considering how the austerity measures and overall government and economic restructuring efforts would not end until
30 years later, with the Beiteynuese Government continuing to remain aggressive on repaying its significant national debt - a result of
extended corruption and lack of efficient administration the previous century - even up to 5250. The initiatives from
5230 and onwards are what became the actual markers of Beiteynu's transition from a primarily agricultural and importing economy to a manufacturing, services and trade based nation, though with the perils attached to such aggressive economic policies, with increased unemployment, wage gaps and inflation, ultimately bringing the austerity generation to its knees in recent years, as automation, education costs, workforce skills and business wealth tilt significantly to the negative side for Beiteynuese people older than 50.
A side benefit of this violent progression of economic factors is Beiteynu's exponential increase of government service exports, with the work of the MOIT's Digital Transformation and Governance and the Tactical Bureau of Intelligence's Terran Wide Web internet mainframe sitting at the center of these services, making Beiteynu one of the top providers of government - and especially digital government, analysis and management - services in Terra, with nations of the trade network frequently partnering up with the Beiteynuese MOIT and MOST and technology consulting firms from the private sector. Of the most significant markers of Beiteynuese exports, as the preliminary data indicates, are travel and shipping services - with the second being of significant importance with Beiteynuese shipping companies even being involved in indirect trade routes in other nations of the network (ex. the petroleum distribution agreement with Trigunia), business and investment services, financial services - with all these representing a massive chunk in Beiteynu's economy, manufacturing, consumer goods, packaging services, information technology services with a significant preference in advertising and data analysis and management and very recently, the steadily rising defense and technology sectors, also supported by the recent educational initiatives.
The recent trade agreement with Kafuristan and the upcoming alliances with Kundrati and Trigunia, with rumours of a Selucian partnership circulating in the MOFA and MOFIN ranks, are expected to expedite the momentum as Beiteynu enters the 54th century, setting up the stage for an economic transformation.
