THE CONTRIBUTION OF MARTIME TRADE TO THE ECONOMY

Abstract

Most of the Earth's surface is covered by water. It’s first use as a mode of transportation came around 400 BC. The first attempts were made in small and relatively short rivers and eventually went on to take place in the seas. The first ships that navigated the sea used both oars and sails. The use of these ships brought with it trade within the Mediterranean Sea. It turned out that use of ships in trade was much more useful and efficient than the use of camels. Eventually the use of oars in ships were completely abandoned due to the use of sails. Due to high tariffs the Muslims imposed on products such as silk and spices, European traders started to explore the seas to find alternative routes. These explorers who found as of yet unknown lands and established “colonies”. The goods these colonies produced lead to trade between these lands and Europe. The demand for safe and stable trade between Europe and these lands increased the demand for maritime trade as well. To protect the stability of this trade and to increase the profits of merchants, a policy called “mercantilism” developed. Then the Industrial Age brought with it an increased demand for raw materials and goods. As a result of this, systems that allowed free trade were developed. With this policy the restrictions that prohibited trade were abolished and maritime trade flourished under these conditions and became a staple of our times. Through the conditions that have been mentioned, currently the maritime trade represents 80% of the total trade that takes place.
The history of maritime trade done between civilisations which hasn’t yet to lose it’s influence is of utmost importance and has in this study the history and the current state of maritime trade been examined through a descriptive analysis.