Britain gained many economic benefits from mercantilism and the Triangle Trade. Here’s a simpler look at those advantages:
Trade Surplus: From 1700 to 1770, Britain sold about $2.5 billion worth of goods to other countries. This means they made more money from selling than they spent on buying.
Colonial Resources: The colonies provided valuable raw materials like sugar, tobacco, and cotton. These resources helped British businesses grow and thrive.
Manufactured Goods: Britain sold $1 billion worth of finished products back to the colonies. This included things like clothes and tools that were made in Britain.
Triangular Trade: This trading system connected Britain, Africa, and the Americas. It allowed over 12 million enslaved Africans to be transported, which helped farming economies in the Americas grow stronger.
Wealth Accumulation: During the time of the colonies, Britain's economy grew by about 50%. This growth came mainly from the trading and economic practices they had in place.
In summary, these trade practices helped Britain become richer and more powerful during this time period.
Britain gained many economic benefits from mercantilism and the Triangle Trade. Here’s a simpler look at those advantages:
Trade Surplus: From 1700 to 1770, Britain sold about $2.5 billion worth of goods to other countries. This means they made more money from selling than they spent on buying.
Colonial Resources: The colonies provided valuable raw materials like sugar, tobacco, and cotton. These resources helped British businesses grow and thrive.
Manufactured Goods: Britain sold $1 billion worth of finished products back to the colonies. This included things like clothes and tools that were made in Britain.
Triangular Trade: This trading system connected Britain, Africa, and the Americas. It allowed over 12 million enslaved Africans to be transported, which helped farming economies in the Americas grow stronger.
Wealth Accumulation: During the time of the colonies, Britain's economy grew by about 50%. This growth came mainly from the trading and economic practices they had in place.
In summary, these trade practices helped Britain become richer and more powerful during this time period.