On each "Next Day", systems are processed in this order: CONSTRUCTION → PRODUCTION → CONSUMPTION → TRADE → ECONOMY → POPULATION.
Production: active factories run their recipe (if the inputs are there, they are consumed and outputs produced). INSTANT products like energy and water are produced fresh every day (not stockpiled).
Consumption: the population consumes basic goods (food, clothing, housing…); if there's a shortage, satisfaction drops.
Trade: countries match bilaterally; you sell your surplus and buy your deficit (money is conserved). Tariffs + embargoes apply.