AUSTRIAN TRADE TOWARDS THE OTTOMAN EMPIRE AND ASIA DURING THE 18th CENTURY

Abstract

After geographical discoveries of the 15th and 16th centuries the economic system based on trade began to develop in the real sense at the planetary level. During the 18th century, just before the start of the industrial revolution, the system experienced a peak. Naval powers played a key role in its global development, as their commercial and military fleets enabled the constant fluctuation of the goods on all oceans and continents. The trade of European naval forces with India and other parts of Asia was particularly significant regarding the commercial aspects and large profits were achieved especially in the triangle of slave trade between Europe, Africa and America. In this context Austria was mostly just an observer because its effect on the global commercial efforts was dominantly continental. However, with the development of the 18thcentury Austria invested also more efforts to increase its share in the global trade and the accumulation of trade capital. The Court Chamber was efficiently organized for the new conditions of economic activity in 1714 through a thorough set of reforms. The division of chambers into independent commissions was fully achieved. It was an adequate administrative basis for the start of the Austrian trade expansion to the east and southeast throughout the rest of the 18th century.