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There was relatively free trade within the Empire, though the Imperial Preference was not as comprehensive as some preference systems such as the German Zollverein. The British Empire became the world's largest economy by nominal GDP in 1870 [ 6 ] [ 10 ] and was responsible for approximately a quarter of global trade at that time, [ 10 ] with ...
Map of the world showing the extent of the British Empire in 1886. Between 1815 and 1914, a period referred to as Britain's "imperial century" by some historians, [113] around 10 million sq mi (26 million km 2) of territory and roughly 400 million people were added to the British Empire. [114]
The British Empire (red) and Mongol Empire (blue) were the largest and second-largest empires in history, respectively. The precise extent of either empire at its greatest territorial expansion is a matter of debate among scholars.
It pursued trade concessions in China and Japan, and territory in Southeast Asia. The "Great Game" and "Scramble for Africa" also ensued. The period of relative peace (1815–1914) during which the British Empire became the global hegemon was later described as Pax Britannica (Latin for "British Peace").
Commonwealth free trade is the process or proposal of removing barriers of trade between member states of the Commonwealth of Nations. [1] The preferential trade regime within the British Empire continued in some form amongst Commonwealth nations under the Imperial Preference system, until that system was dismantled after World War II due to changes in geopolitics and the pattern of global ...
The Company of Royal Adventurers Trading to Africa had been set up in 1662 to trade in gold, ivory and slaves in Africa; it was reestablished as the Royal African Company in 1672 and focused on the Atlantic slave trade. British involvement in each of the four major wars, 1740 to 1783, paid off handsomely in terms of trade.
Statistics of the Colonies of the British Empire (or more completely, Statistics of the Colonies of the British Empire in the West Indies, South America, North America, Asia, Austral-Asia, Africa, and Europe) is a work by Robert Montgomery Martin which comprises a number of different statistics to measure the well-being of the British Colonies in the late 18th until mid 19th century.
In consequence the value of British exports to France more than doubled in the 1860s and the importation of French wines into Britain also doubled. [6] France ended the treaty in 1892 in favour of the Méline tariff. According to a 2022 study, the treaty substantially increased trade between members of the treaty. [7]