The 18th century witnessed a remarkable expansion in global trade, transforming economies worldwide. European powers, particularly Britain and the Netherlands, dominated maritime commerce, establishing extensive networks across the Americas, Africa, and Asia. Key trends included:
▪︎Rapid growth in intercontinental trade volumes, averaging 1.26% annually
▪︎Rise of colonial goods like sugar, tobacco, and cotton textiles
▪︎Intensification of the slave trade
▪︎Emergence of powerful trading companies like the Dutch East India Company
▪︎Increased importance of luxury goods from Asia, including spices, silk, and porcelain
▪︎Growing European trade-to-GDP ratios, reflecting economic integration
This trade boom laid the foundation for future industrial revolutions and shaped the modern global economy.
Source: Cantech Letter