Economy developments and Trade

• Agriculture 


  90% of people lived off the land. Main form of farming being crops, but pastoral farming was increasing e.g raising animals like cows and sheep.

  People lived in subsistence, growing food crops to meet their own families needs with very little surplus.
• The Cloth Trade


  Woolen cloth was 90% of exports, increased by about 60% under Henry.

  Yorkshire, East Anglia and the West Country produced the most cloth.

  Raw wool but mostly finished cloth and wool.

  Henry supported the Merchant Adventurers through the Calais Staple and tried to overcome the Hanseatic league ,who enjoyed greater trading privileges,through the Intercursus treaties.
• Trading Agreements & Industry developments

  Medina Del Campo 1489, very favourable import duties.

  1489, Denmark, gave English fishermen the right to fish in Icelandic waters.

  Tin mining in Cornwall, lead in the Pennines.

  Coal mined in Durham and Northumberland, shipped from Newcastle to London to meet demand.

  quite small industry in general
• Early Exploration 


  John and Sebastian Cabot, claimed lands in North America for England.

  Located Newfoundland and reported extensive fishing grounds for Bristol fish merchants. But was lost at sea on his second voyage.

  Exploration was not continued in Henry VIII's reign.