With the Republican Autonomy Plan being more or less a resounding success, paving the way towards Oceanyka's industrialisation, The Oceanykan Council now moved towards a new goal: economic growth, which would give the people of the Oceanykan Federation an elevated standard of living, and the country as a whole, a means of defending its newfound sovereignty. Additionally, with the end of World War I came a period of unprecedented growth across the world, fostered by the development of automobiles, household electronics and the futuristic movements such as art deco, known as The Roaring Twenties. For these reasons, the Plan was updated to establish an export-oriented economic model.
- Oceanyka’s economy had been, for the last century or so, entirely built on commodity exports, including minerals, wool, agricultural goods, and increasingly, industrial products. The global demand for raw materials surged as Europe and North America underwent postwar reconstruction, providing lucrative opportunities for Oceanykan exporters. Oceanykan mining companies expanded operations, and foreign investments, particularly from The United States of America, The German Empire and The State of Japan, flowed in. Oceanyka also saw a sharp rise in agricultural productivity; wheat, beef, and Murray Millet became key exports. Finally, by the late 1920s, Oceanykan textiles, machinery, and processed food products were finding their way into regional markets, particularly in Southeast Asia, thanks to the industrial base established in the prior decade.
- Recognising the necessity of external capital to sustain growth, most regional governments pursued radical economic liberalisation while maintaining protective tariffs for strategic industries. Investment from American, German and Japanese firms was particularly important, as they established joint ventures in Oceanyka’s mining, steel, and railway sectors, accelerating industrialisation. To facilitate exports, the government invested heavily in modernising port facilities in major cities and founded the National Rail & Road System to connect resource-rich inland areas with coastal export hubs.
Despite economic expansion, the rapid shift towards export-led growth created disparities and socioeconomic contradictions. Wealth concentrated in industrial and port cities, while rural areas, though benefiting from land reforms, lagged behind in infrastructure and services. Industrialists prioritised profits over workers’ rights, leading to harsh working conditions and growing unrest among labour unions, a worrisome situation considering Oceanyka's urban proletariat was the fastest-growing demographic.
Oceanyka’s prosperity hinged on continued demand for its exports, making it vulnerable to external economic shocks. By the end of the 1920s, Oceanyka had firmly established itself as an export powerhouse, though its reliance on foreign trade and investment carried inherent risks. That risk manifested itself in October of 1929, when the Great Depression began.
Because it had worked for a decade, The Oceanykan Council not only refused to change course when the greatest economic crisis in the history of Earth arrived, but they doubled down. In their defence, however, the Oceanykan Federation was designed in such a way that decentralised and laissez-faire policies were much easier to push forward than heavy-handed, centralised solutions, since the Federation possessed little to no capacity of state. This emphasis on laissez-faire economics, coupled with the collapse of centralised political authority during and after the Oceanykan Civil War, led to a unique political phenomenon known as Australian Anarcho-Capitalism. Regardless, the Oceanykan state's greatest moment, although its last dying breath as a unified force, too, can be seen in the total war economy created within the context of the Economy of the Oceanykan Federation in the 1940s.