Henry VIII Economy
Trade –
Trade generally increased under Henry VIII. His reign saw a
continued rise in the cloth exports, though the market for raw
wool declined. There was a rise in the import of wine, which
suggests greater spending power amongst the English
population.
Many smaller ports found it difficult to compete with London.
Although 70% of cloth exports were transported by English
merchants, from the 1550’s a majority of trade remained in
foreign hands.
The development of the cloth industry drove the West Ridings
of Yorkshire and East Anglia, however work remained largely
unpredictable.
Exploration –
Henry VIII had no interest in exploration, and failed to build
upon the discoveries of Cobat, who remained in Spain
throughout the reign.
Trade –
Trade generally increased under Henry VIII. His reign saw a
continued rise in the cloth exports, though the market for raw
wool declined. There was a rise in the import of wine, which
suggests greater spending power amongst the English
population.
Many smaller ports found it difficult to compete with London.
Although 70% of cloth exports were transported by English
merchants, from the 1550’s a majority of trade remained in
foreign hands.
The development of the cloth industry drove the West Ridings
of Yorkshire and East Anglia, however work remained largely
unpredictable.
Exploration –
Henry VIII had no interest in exploration, and failed to build
upon the discoveries of Cobat, who remained in Spain
throughout the reign.
