Foreign trade of Renesia

Foreign trade of Renesia includes major s and s of Renesia. The Ministry of Commerce of Renesia (MoC) administrate foreign trade and regulates tariffs. Trade accounted for 27% of Renesia's GDP in 2020. Renesia is a part of Onse Naval Alliance Treaty (ONAT) alongside Ecoralia and Galvia, two of its largest trade partners. Renesia's export is dominated by metals and mineral products accounting for around 40% of the total exports.

Trade policy
Renesia is an export-oriented nation with a tariff of 25% on imports from non-favoured partners. Renesia primarily aims to protect its industries to stop relying on metal and minerals export. Renesia is also focusing to make much easier, by facilitating entertainment and service industries on their deliveries and avoiding any  or hindrances.

Foreign direct investment
Foreign direct investment has been slowly growing since the 1980s. Foreign investments are only allowed to specific nationals which limits the pool of foreign investors for Renesia. Foreign companies build their factories in Renesia to gain access to cheap metal for their production.

Renesian investments abroad
Renesia has invested in Alutra since after Third World War to help restart Alutran economy and rebuild its infrastructure, several Renesian, especially the Grand Sarrisen Bank and the International Renesian Bank, companies also into the affected areas with the support of the Renesian government, totalling in Ꝟ25 billion worth of investments, and loans worth of Ꝟ30 billion. Renesia also helped in the reconstruction efforts in Ventora after the War of the Three Capitals with some estimates Ꝟ1.56 billion was invested by Renesia during its recovery, some Renesian construction companies still operate to this day in some capacity such as Stahlschmiede Limited. Renesia also invested in Vojandzeka after Vojanak War and the Kalvatăsz Crisis totalling Ꝟ1.7 billion in investments. Renesia also invested in the pharmaceutical industry in Koranel and owns a sizeable share. Renesia's investments abroad helped it accumulate a significant amount of especially in Alutra.

Exports and imports
Most of Renesia's trading partners are Alutran nations with few exceptions. Other than metals and minerals Renesia also exports defense equipment, textiles, vehicles, machinery, chemical products and wood-related products. Renesia depends on foreign imports for foodstuff, fossil fuel and electricity which enables it to grow exponentially.

Exports and imports by province
Renesia's exports and imports in 2020 by province and their top export and import from each (million Ꝟ).

Ecoralia
The Ecoralian-Renesian trade relationship is one of the oldest trade relationships Renesia has, the oldest document hint at Kingdom of Æðelstan maintaining "old trade routes with the kingdoms of the east". The trade route between the two regions has been disrupted multiple times through wars and conquest. After the independence of Renesia and the formation of Ecoralia, the trade relationship between the two nations became official. Although, in some instances, their relationship reached a boiling point where all trade between the two nations was halted such as the Eduran Revolution, Velvet Revolution of 1842 and the Second World War. After the second world war, Renesia sought to repair its relationship with Ecoralia and helped it rebuild its infrastructure and rebuild its economy after the Third World War bringing the two nations closer together. Now Renesia and Ecoralia are members of Grand Martial Championship Association (GMCA), Onse Naval Alliance Treaty (ONAT) and Alutran Cultural Community (ACC).

As Ecoralia and Renesia are both members of ONAT and are close in proximity they enjoy easy trade with each other. Nationals in both countries are able to invest in the other country much more easily and are able to use their national ID to travel between them. Moreover, ONAT removes all trade barriers between Ecoralia and Renesia, with the exception of banned items such as weaponry, all products are tariff-free. Ecoralia and Renesia connected their rail system through two points; the Einheit/Renes line through Renas province, and the Rot Erberg/Rot Nord line through Erberg province, the former is used significantly more than the latter as it connects the two capitals. Renesia has also connected its energy grid with Ecoralia to import Ecoralia's electricity. Renesia sole Oil rig transport all of its extracted and  to Ecoralia to be refined.

Common imported items from Ecoralia are pharmaceutical goods, ice equipment, electronic goods and sea vessels. Meanwhile, commonly exported items are motor engines, metal products, coal and luxury goods.

Edury
Renesia's stance on republic nations has always been cold, similarly, Edury's stance on monarchical nations is a hateful one, yet Renesia and Edury still maintain a healthy trade between them. Renesia has iron and various other metals that Edury covet so much and Edury has foodstuff and coal that Renesia covet so much. The trade between the two nations existed since ancient times and has only intensified with age, to the point where Renesia sided with Edury in the Eduran revolution to maintain their trade relationship. Renesia and Edury train networks are connected to each other via Ecoralia.

Galvia
Since the creation of the High Kingdom of Æðelstan trade with its southern neighbours was limited compared to eastern and western neighbours, however, this all changed after the Varic Empire's conquest of the region, integrating it into its trade network. After Renesia's independence, it still maintained its established trade routes and any war in Galvia would ripple negatively towards Renesia such as the Common War and Galvic War which forced Renesia to adapt and attempt to profiteer from these wars by establishing the Krahensoldaten.

Today, Renesia and Galvia are both members of ONAT which removes tariffs between them and gives freedom of movement for nationals in both countries. Renesia imports Galvian electricity, therefore, Renesian energy gird is connected with Galvia. Galvia and Renesia train networks are connected via two points; the Einheit/Renes line through Schaarstal province, and the Gelb Kostbar/Gelb Sarrisen line through Bredelem province, both are used equally as much.

Common imported items from Galvia are foodstuffs, pharmaceutical goods, electronic goods, copper and titanium. Meanwhile, commonly exported items are motor engines, metal products, lumber, sea vessels, cars and luxury goods.

Gladomyr
After the third world war, Renesia invested in Gladomyr and helped the reintegration of South Gladomyr back into Gladomyr. Renesia treats Gladomyr as a favoured trade partner, although there is no official trade agreement between the two nations Gladomyr goods face lower tariffs compared to non-favoured trade partners. Although, Myrish still face difficulties in investing inside Renesia.

Koranel
Significant trade between Renesia and Koranel started in 1980 with the improvements in aeroplanes and sea cargo helping facilitate the trade between the two nations. Renesia invests in both the oil and pharmaceutical industries in Koranel, owning 20% worth of shares in Oilkor among others. The most imported goods are; Oil, natural gas, pharmaceutical goods, fish and minerals. Meanwhile, Renesia commonly exports to Koranel are; cars, machines, luxury goods, motor engines, minerals and metals. Renesia import value is significantly more than its export value to Koranel giving it a negative trade balance.

Lathadu
Renesia helped rebuild some parts of the affected areas of Lathadu after the third world war. Lathadu citizens are able to invest in Renesia as easily as a Renesian citizen as a side effect of Reciprocal Acceptance of National Identification Treaty (RANIT). Renesia imports foodstuff, livestock, cotton, cars and machinery from Lathadu. Meanwhile, Renesia exports minerals, metals, electronics, clothing and luxury goods to Lathadu.

Salia
During Salia's dominance over the seas, Renesia helped fund some expeditions to Vidina and Osamia through Southern Import Company in exchange for cheaper tariffs and potential return on investment, Renesia even helped Salia through monetary means and supplies in Port War of 1666, Port War of 1858 and Riyatic-Salian War. After the third world war, Renesia put a significant effort into rebuilding Salia from investments to loans of money and equipment. Renesia enjoys a friendly relationship with Salia until this day and sees it as a favoured trade partner.

Ventora
The official relationship between Renesia and Ventora started in the 1600s, however, significant trade between the two regions was established after the Varic Empire's conquest of the Kingdom of Æðelstan. The advent of new and improved methods of transportation brought the two countries much closer together. Although there was no official support from Renesia's government, some Renesian noble families assisted Ventora during the Eshar War. After the Second World War Renesia and Ventora entered into a bilateral trade agreement to help alleviate the effects of the war, where there are no tariffs between the two nations and nationals in both countries enjoy a significant amount of economic freedom, and the later signing of Renes Agreement Regarding Dual Nationality cemented those agreements. After the War of the Three Capitals, Renesia invested in Ventora to help it rebuild its economy and loaned nobles and capitalists alike to restart it.

Renesia imports agricultural goods, livestock, plastics, intermediate manufacturing goods, coal, defense equipment, textile and cars from Ventora. Meanwhile, Renesia exports luxury goods, clothing articles, minerals, metals, lumber and engines to Ventora.

Velorenkya
Renesia and Velorenkya share a cold relationship with each other. However, Renesia imports oil and gas from Velorenkya, with a pipeline going to Fern province. Although Renesia only has 10% tariffs set on Velorenkya goods limited trade happens between them as the relationship has always been tense.

Vojandzeka
After Vojandzeka's independence Renesia invested in it to rebuild its industries and help the fledgling nation. Renesia has also contributed Ꝟ2 billion in humanitarian aid to Vojandzeka. After Vojanak War Renesia lent lease Vojandzeka with military equipment and provided them with training personnel, until the Kalvatăsz Crisis. After the Kalvatăsz Crisis Renesia dropped all tariffs on Vojandzeka to encourage trade between them and help Vojandzeka gain the attention it needs for other foreign investors.

Trade agreements
Renesia has a trade agreement with Ventora. Renesia is part of ONAT which has freedom of movement of goods and people between member nations. Renesia is also part of the ACC which encourages free trade and freedom of movement between its members but does not enforce it.