Economy of the Terran Federal Republic

The economy of the Terran Federal Republic is highly developed mixed economy. It is second-largest economy in the known galaxy by GDP behind the Mirdesh Confederacy, making up approximately 27.2% of galactic economy. The sol is the galaxy's second-most traded currency after the Surben-Mirdesh credit, but in recent years it has periodically surpassed it. Several nations in the Terran-led Standardisation Group use the sol as their currency or peg their currency to the sol. The Federation heads the ECDA, a major economic bloc made up of several other countries. 
The Terran economy has low levels of inequality due to a very harsh tax system. The income of Terran households on average is lower than that of some of their international counterparts, but it is compensated by the availability of virtually free extensive government services. The economy is dominated by a handful corporations, known as the supermajors. The industrial sector is the largest in the galaxy and makes up around 55% of GDP. Automation is at relatively high levels. The total population is of 79 billion, with a working age (16-115) population of 53 billion. There are 16 billion automata of various sorts in the Federation, around 10a tenth of which are androids.