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date: 29 June 2022

Ottoman Commercial Historylocked

Ottoman Commercial Historylocked

  • Kate FleetKate FleetCambridge University

Summary

The Ottoman empire, which at its height stretched around the Mediterranean from Albania to Morocco, from Egypt in the south to Crimea in the north, and from Iran in the east to Hungary in the west, represented an enormous trading bloc. Its internal trade, which was always much greater than its external trade, consisted largely of agricultural products with some manufactures, in particular textiles, which were traded both locally and to distant parts of the empire. External trade was dominated by agricultural products, which were exported to the West, and manufactured goods such as textiles, carpets and ceramics, and the import of textiles from the West, silk from Iran, spices from the East, and coffee from Yemen. Many of these commodities transited through the empire. There was also a significant trade in slaves into the empire from the Black Sea region and from sub-Saharan Africa.

Commerce, which influenced Ottoman conquest policy, brought considerable revenues to the state, and Ottoman rulers invested heavily in infrastructure to support trade and to protect traders. They also attempted to control commodity exchange, imposing trade embargoes, fixing prices, and establishing a system of provisioning.

The expansion of the world market in the 19th century affected the nature of Ottoman commerce. The empire became an exporter of raw materials and importer of manufactured products. Controls on internal trade were removed, allowing foreign merchants to operate freely, and its markets were opened up to an influx of goods from Europe, in particular from Britain.

Subjects

  • Capitalism
  • Economic/Business
  • Middle East

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