@ThomasSimpson: Thanks, I was going to add arable (crops) farms but the island was too hilly for that and crops only grown below a certain gradient and I want this to be as realistic as possible.
@jason leo: It's a very relaing place! But I'm doing things the opposite way around, When it's Summer in Utgard, it's Winter in real life and vice versa.
@PaulSawyer: Thanks, I was going for that feeling of quaint and cute alongside modern and progressive.
@ggamgus: Yeah thanks, I've been building up the region since December so it's not too much work to get the entries rolling out.
@IL.: Thanks, but you can't miss out the cows!!!
@Republic Master: Thanks, urban Elvoya will be in the next update.
@Fox: Thanks, I'm always looking to use stuff that doesn't have to conform the the grid.
@SilverCyric: Thanks, and good luck! Let me have a look once your finished and I'll give you a few pointers.
In this update we will take a look at the economy of Utgard and to do that, I have prepared a series of charts and graphs to best illustrate the statistics. Also included in the statistics are predictions for 2015. The figures are all provided in $USD with the current exchange rate at UKR 6.4 to the dollar. Historical levels of GDP also have inflation factored in and I have used the Purchasing Power Parity form of GDP as opposed to nominal GDP. Get ready for mind numbing jargon and statistics!
First of all, we will look at Utgard's GDP performance over the last several decades.
As you can see from the charts, population has steadily increased over the period by around 17% with GDP growing quickly between the years of 1965 to 1985. In 1963, Utgard went into a recession due to it's inability to repay the United States money it had borrowed during WWII. However, in 1964, oil was discovered in the Utgarsh North Sea causing GDP to spiral upwards. There was a brief financial crisis in 87 causing a small contraction of GDP however, since then there has been a healthy growth of GDP.
We will now take a look a look at Utgard's Economic performance from 2010 until today (2013).
As you a tell from the charts, Utgard has had steady GDP growth in every quarter since 2010 with only a minor contraction in the Spring of 2012 due to decreased economic activity as a result of a 2 day shutdown of the stock exchange after an attempted terrorist attack on the building in Vanaheim. Average income has fluctuated since 2010 but has seen non-stop growth since 2012. The main factor of economic growth in 2011 was a higher than average level of oil production and in 2012, it was down to higher consumer confidence leading to a growth in household consumption.
In the last part of the report we will look at last year's export situation and how Utgard's GDP compared to the rest of the world.
(please note that the Aaland Islands are not included in the Global results)
Looking at the charts, it is apparent that the largest exports were of oil and gas with fish following in second place. The largest export market was the EU (especially the UK and Sweden) with Norway and the United States following in second and third place respectively. Exports grew from $92.8 billion in 2011 to $95.4 billion in 2012. During 2012, Utgard imported $54.2 billion worth of goods making the country a net exporter by $41.2 billion. When it comes to the global stage, Utgard has the 9th highest GDP and the 3rd highest among the Nordic nations.
Please note that I am working on a much more in depth version including the Government's budget for 2013 which will be available for download in a .pdf file. Thanks for reading! The next update will feature Elvestad, the main settlement on Elvoya, hope to see you then!