What grew in Italy because of the increase in trade?

Italy grew wealthy because of trade at the Italian peninsula. Italians traded with China and India to get silk and spices and they used the items to sell to the western Europe, and they used the items for other reasons such as making things that was useful.

What effects did trade have on Italy?

The extensive trade that stretched from Egypt to the Baltic generated substantial surpluses that allowed significant investment in mining and agriculture. Thus, while Northern Italy was not richer in resources than many other parts of Europe, the level of development, stimulated by trade, allowed it to prosper.

What two things grew in Italy during the Renaissance?

What are two things that grew in Italy during the Renaissance? In addition to the discussion with the Renaissance gave way to various cultural achievements such as: literary creations, works of art and great works of architecture.

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Why did Italian trade grew during the Renaissance?

New technologies were being developed and affluent people wanted to be in Italy because of the exciting progress that was going on there. So, new and interesting technologies combined with oftentimes more wealthy people flocking there made the Italian trade grow.

What did Italy trade?

Italy’s trading strength was traditionally built on textiles, food products, and manufactured goods. … Italy’s main imports are metal and engineering products, principally from Germany, France, the United States, and the United Kingdom. Chemicals, vehicle, and mineral imports are also important commodities.

Who was the richest banker in Italy?

It was the largest and most respected bank in Europe during its prime. There are some estimates that the Medici family was, for a period of time, the wealthiest family in Europe.

Medici Bank.

Industry Financial services; Banking
Fate Liquidated
Headquarters Florence, Republic of Florence (present day Italy)

What does Italy trade the most?

List of exports of Italy

# Product Value
1 Refined Petroleum 25,040
2 Pharmaceuticals 20,159
3 Vehicle parts 12,839
4 Cars 9,587

Why is Italy so rich?

Furthermore, the advanced country private wealth is one of the largest in the world. Italy is a large manufacturer (overall the second in EU behind Germany) and exporter of a significant variety of products including machinery, vehicles, pharmaceuticals, furniture, food, clothing, and robots.

What was life like in Renaissance Italy?

The people of Renaissance Florence were organized into five social classes. No social class except (workers/tradesman and peasants) had their own method of becoming wealthy such as working in big industries e.g boat-making or producing wool.

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How did the Italian city states become rich?

Their wealth came from international trade routes we call the silk roads, connecting European and Asian markets thanks to the massive Mongol Empire that opened up Eurasian trade.

What was the impact of increased trade on the European Renaissance?

During the Renaissance, the European economy grew dramatically, particularly in the area of trade. Developments such as population growth, improvements in banking, expanding trade routes, and new manufacturing systems led to an overall increase in commercial activity.

Who did Italian merchants trade with during the High Middle Ages & Renaissance?

Answer: Being on the Mediterranean region, Italian merchants traded with Western Europe, the Levant region as well as North African states. Explanation: Italian traders had developed extensive links with different parts of the world and not only exported goods but also imported from different region.

What was one reason Italian trade grew during the Renaissance quizlet?

What was one reason Italian trade grew during the Renaissance? The Crusades (conflict) brought Italian merchants into contact with Arab merchants. The Mongol Conquests (conflict/conquest) united much of Asia into one large trading network.

What are Italy’s top 5 imports?

Imports: The top imports of Italy are Crude Petroleum ($35.1B), Cars ($29.8B), Packaged Medicaments ($17.4B), Petroleum Gas ($15.8B), and Refined Petroleum ($9.11B), importing mostly from Germany ($75.1B), France ($41.2B), China ($34.9B), Spain ($25.5B), and Netherlands ($23.9B).

What are Italy’s top 3 imports?

Main imports were: transport (12 percent of total imports); base metals and metal products (10 percent); chemicals (9 percent); textiles, clothing, leather and accessories (8 percent); food, beverages and tobacco (8 percent); machinery and equipment (7 percent); computers, electronic and optical devices (7 percent); …

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What does US import from Italy?

United States imports from Italy Value Year
Pharmaceutical products $6.12B 2020
Vehicles other than railway, tramway $4.26B 2020
Beverages, spirits and vinegar $2.89B 2020
Electrical, electronic equipment $2.30B 2020
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