The Economy of Wakanda

If an advanced civilization evolved in the heart of Africa, mostly isolated from the rest of the world, how would that economy function? We are going to analyze the Wakandan Economy by each sector, and how we imagine they would function today based on available information. There is not a ton of reliable information out there on the subject, so this requires some inferences.

Wakanda's people are divided into tribes based on location and occupation. There is the Mining Tribe, the Merchant Tribe, the River Tribe, the Border Tribe,  and the mountain Jabari tribe. This suggests a highly specialized work force where your likely future occupation is based on your family heritage. Children born into Mining Tribe for example would be more likely to pursue a career working in the vibranium mine, almost like family apprenticeships.

Agriculture:

Based on the maps we've seen, most of Wakanda is located in modern Ethiopia, a region known for low agricultural output. There are likely to be advanced farming methods that can produce large crop yields, but none that we see the in the movie. When they fly over the country there are herds of animals being guided by people probably with the border tribe, who happen to live on the lands best suited for livestock.

We do know that some of the tribes are vegetarian. Most fruits and vegetables could be grown in Wakanda. There is a lake near the center of Wakanda and an extensive river system. The River Tribe likely practices different forms of advanced fish horticulture. The Nile Perch is a staple food item in sub-Saharan Africa, and so it's safe to assume that it's most frequently consumed type of fish. They could probably even import popular fish to eat and introduce them to their river system. But that would most likely disrupt the delicate ecosystem. It's unclear if there are demands for luxury food items that can only be collected outside their borders, like lobster, tuna, etc. that are more likely to be consumed by the wealthiest Wakandans.

Minerals and Mining:

We learn early in the movie that one of the tribes of Wakanda calls themselves the "Mining Tribe", so it should be easy to guess their primary occupation. They likely occupy the land closest to the biggest deposit of vibranium and consist of blue-collar workers. The mining industry and its subsidiaries have to employ a substantial proportion of the labour force.

The only metal that is mined in any significant quantity in Ethiopia is gold, but the amounts are relatively small. The area does not have significant mineral wealth, but does have a massive deposit of vibranium. We don't know for sure what the exact size of their vibranium deposits are, but there's enough that they could sell billions of dollars worth. We also don't know what their domestic consumption of the metal is exactly. It's unlikely they would use it for everything, and only use it for its most important functions. At one point Shuri does say that it is everywhere.

We do see a massive mining operation beneath the main city, so we have to presume that they are pulling every resource they can from their land. Vibranium seems to be multi-purpose, providing both a building material and energy source. I'm not sure what happens when you eat it, but it would probably kill a non-Wakandan. The DNA of Wakandans would have evolved a certain immunity to whatever radiation it might posses.

Energy:

The Wakandans appear to be uniquely dependent on vibranium as an energy source, as it radiates energy that can be harassed into some kind of electricity. They are not likely to be sitting on any significant fossil fuel reserves, so they may have figured out a way around life without combustion, or they could convert plant matter into an advanced form of ethanol. Importing oil from outside countries would be tricky, just on a volume basis alone. 

It's unclear how exactly they derive energy from vibranium, whether they make vibranium batteries, or have vibranium reactors that produce vast amounts of electricity. Whatever method is used, it can't be obvious or easy to do, otherwise Howard Stark would have figured it out. Instead he used his precious limited to supply to make a shield. The metal probably needs to be refined in some way before you could apply it as energy source, or it needs to be combined with another element (or more) to elicit the desired effect. 

In Black Panther, we see their main street. It looks like they have an effective public transportation network. The tube in the background could be a kind of sky-train maybe again utilizing magnetic levitation, the same process they use to transport vibranium in the mines. 

Speaking of electricity, would it be possible that Wakanda invented this before Benjamin Franklin? It would be fascinating to see the dates when Wakanda made all their scientific advancements and compare it to the rest of Earth. If they have been more advanced than us for centuries, then it stands to reason that they would be on the forefront of many discoveries otherwise accredited to others.

Manufacturing:

The population is currently unknown, but their level of technological advancement would allow for significant automation of manufacturing instead of relying on access to labour. There would always be the option of importing cheap labour from outside the country for specific projects, while being careful about limiting what they can see. Maybe blindfold the temporary workers.

There probably aren't too many retail stores in Wakanda, as they probably rely on some advanced version of Amazon to distribute goods. If they have heavily automated manufacturing and distribution of goods, then many Wakandans probably don't even need jobs. Mining and agriculture probably represent the largest employers of labour, along with the technology sector. Wakandan children probably all "learn to code" in their school system and can create machines that automate manual labour.

Banking:

One of the clans of Wakanda are the Merchant Tribe. They probably own their version of Amazon and control any financial markets or services, like banks. The banks can extend loans to private citizens and corporations who are creating new businesses or developing new technologies. Whether or not they have a stock market, they would certainly have investment banking. There is probably a Bank of Wakanda in Ethiopia and Switzerland. 

There is very little need for any foreign currencies in Wakanda, and we are not sure if they have a currency of their own. If they do, it is probably closer to bitcoin than paper currency. The country is not completely isolated from the world, as they deploy agents around the globe to keep an eye on humanity. Those agents will need money, and any import items that Wakandans demand from foreign countries will need to be paid for in some form of accepted currency. It does seem likely that Shuri would be able to counterfeit foreign currencies quite easily.

Imports and Exports:

A news report in Black Panther says that Wakanda does not engage in any international trade. The world is not aware of any, but they may do it covertly through shell companies that are based in a neighboring country, with giant warehouses in the largest neighboring trading hubs. These organizations could then smuggle the goods in and out of Wakanda. I wouldn't be shocked if they had a tunnel system that could be used for this purpose.

There has to be a pipeline into the country for imported goods, probably directed through Ethiopia. It's also possible that they import goods through the lawless country of Somalia, which might seem counter intuitive given the violent crime rate in that country. If you're looking for a place where you don't want to attract attention, that's an option, at least for the more clandestine goods. The Wakandans can likely produce most of the things that they need from the resources they have, but an advanced civilization like that will have demands for luxury goods that their local ecosystem can't provide.

They have long refused to share their most valuable resource, keeping a tight control on their vibranium supply. They might even continue to do so after opening up to the rest of the world, or sell vibranium in limited amounts. If they start allowing tourists and foreign business people into the country, a lot of technology is going to find its way beyond their borders. Maybe they'll have really tight security at the airport and not allow people to leave with anything made of vibranium.

One shot we see of the capitol city in Infinity War shows what appears to be cranes down by the river or lake, presumably to unload goods from ships or boats. This suggests some form of commerce taking place on the water, whether they are importing goods from abroad or unloading fish from fishing boats. Near those cranes is a large building, which does resemble a sports stadium but could also be a large warehouse. That would make an ideal location for a food processing center.

Globalization:

At the end of Black Panther, King T’Challa decides to reveal Wakanda’s secret to the world and begin to participate in the global community. We don’t know what kind of trade agreements they will make with the rest of the world, or whether they even intend to engage in international trade. World banks will certainly be eager to make financial investments in Wakandan companies and products. If we assume they already have a self-sustaining economy in comfortable equilibrium while in isolation, they might continue restricting or prohibiting trade.

There is a big opportunity to make money by opening up Wakandan technology and products to the global economy if they choose to decide global wealth is something they desire. Just how much of their technology they will share is also a mystery, but they will want to put international patents on their advancements. You can expect that significant restrictions will be placed on vibranium exports, but if they choose to sell, they could demand a ridiculously high price. They could easily amass billions of dollars just from vibranium sales alone.

It will be interesting to see the next Black Panther movie to see what effects globalization has had on the country. It would be awesome if Wakanda hosts an Olympics. We have a few thoughts on Wakanda hosting the Olympics.