23 September 2015 - Vatican City is a unique state in the world with a far from traditional economy that renders traditional economic analysis nearly useless against it. After all, GDP per capita is about $4 million compared to less than $100,000 in top ranked Norway. That's not a typo.
Vatican City is run by donations made by the Roman Catholic Church and Christians from around the world; the latter are commonly referred to as Peter's Pence. While it is known that a special Vatican City department collects and distributes the funds, Vatican City does not disclose details on the mangaement of its funds, further complicating efforts to understand it in standard economic terms. Apart from donations, Vatican City's other sources of revenue are more traditional and include tourism, international banking and financial operations, small manufacturing companies, and revenue from publications through the Vatican Publishing House.
Source: World Bank, World Development Indicators, August 2015.
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The concentration index of exports estimates a country’s reliance on a limited group of commodities as its primary source of foreign exchange income. Ranging from 0 (perfect diversification) to 1 (concentrated on a single product)*, a comparison of index scores to the contribution of natural resources to GDP worldwide shows that countries that are resource-rich tend to have less diversified export bases. Last year Iraq’s export concentration index reached 0.97, driven by its export concentration in mineral fuels, namely oil. Other oil exporters—including Angola, Iran, Kuwait, and...
Over the last three years, car sales in the US market have set new all-time records and included a collection of manufacturers that extends well beyond the American classics. In 2015, vehicle sales in the US reached nearly 17.5 million units, a growth of 5.7 percent from 2014 and 25,000 more vehicles than the record setting sales in 2005. The year 2000 marked a turning point in the US auto industry: it was the last year that General Motors and Ford Motor Company combined made up at least 50 percent of the US market share. GM’s share of the US market has decreased almost 3 times...
Gen-Z has overtaken Millennials by nearly 4 million to become the largest generation in the United States. Baby Boomers are the third-largest generation with the population of 69 million persons in 2020. With a current population of around 86 million, the Gen-Z generation is expected to grow to 88 million over the next 20 years because of migration, according to the United Nations' latest World Population Prospects. The boundaries that define generations are not universally agreed, and yet these boundaries carry important implications in business and government. The size,...
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