Though the economic history of Oceanyka as a collection of independent statelets and groups would eventually be extinguished thanks to the Continental Collapse, that of the 7 Australian Colonies had just begun. The first of these was New South Wales, located in the eastern part of the continent. It had a rough start, for the British were utterly unfamiliar to life in such a bizarre place, and most of its population limited itself to basic economic activities.
- New South Wales began emerging as the new economic centre of Oceanyka, though it never exercised political control over its sister colonies, and in fact held an intense commercial rivalry with its southern neighbour, Victoria. During this era the British funnelled an enormous number of weapons and ammunitions to the combatants of the Revolutionary Wars, which in their desperation were scrapping whatever gold and silver they could to pay for these military supplies, bankrupting themselves in the process.
- The colonists of these seven realms mostly practiced subsistence agriculture; while Oceanyka was clearly the most bountiful and lush land the British had ever sat their eyes upon, its natural hazards are nothing to scoff at, from man-eating insects to leviathan beasts, not to mention previously unknown diseases such as Devil Rabies and in the north, their old friend malaria. All of these factors proved detrimental to the formation and development of colonial industry in its early years. Many of these challenges were surmounted by, in the words of a certain contemporary historian, "throwing money at the problem". Only recently had George Washington secured a decisive victory at the Battle of Yorktown, thus solidifying The United States of America as an independent nation. The British wished to regain their colonial power, and fast.
These limiting economic conditions continued as the Revolutionary Wars raged from 1793 onwards, of which the British and their colonists were major participants. Land industry was not particularly profitable due to these conflicts, but British naval superiority allowed them to reap their first bountiful harvest within less than a decade; fishing and whaling, which were responsible for a period of extreme growth in the .