Trade and Empire, 1700-1870



Table 4.3. Exports plus imports as share of GDP

c. 1655

c. 1720 c. 1755 c

. 1790

1820

1830

1840

1850

1860

1870

Austria

11.4%

14.2%

13.2%

18.7%

29.0%

Belgium

19.0%

26.7%

31.3%

35.6%

Denmark

7.5%

17.5%

27.5%

36.5%

29.7%

35.7%

Finland

20.7%

31.7%

France

5.5%   14%

20%

9.8%

8.2%

10.7%

13.0%

20.2%

23.6%

Germany

19.2%

23.2%

36.8%

Greece

42.7%

45.6%

Hungary

19.4%

Italy

16.1%

18.3%

Netherlands

85%

82%   84%

110%

33.0%

25.8%

53.4%

64.0%

96.4%

115.4%

Norway

33.9%

Portugal

42.4%

33.9%

33.7%

Spain

16%

6.0%

7.3%

11.2%

11.7%

Sweden

5.7%

6.8%

13.8%

20.0%

29.4%

UK

19%   20%

24%

21.4%

18.8%

25.2%

27.8%

41.8%

43.6%

Best guess at total European trade
to GDP ratio

13.4%

11.4%

15.4%

18.0%

24.9%

29.9%

Idem, net of intra-European trade

3.8%

6.3%

8.9%

9.2%

Notes: Ottoman Empire, Albania, Bulgaria, Rumania and Serbia are not included in total Europe. “UK”
pre-1800 is just England and Wales.

Sources: Post-1800: Bairoch (1976), and data underlying Prados de la Escosura (2000). Pre-1800: Deane
and Cole (1962 (1969)), Davis (1969, 1979), Officer (2001), Crafts (1985), Maddison (2001), de Vries and
van der Woude (1997), McCusker (1978), Arnould (1791), Daudin (2005), Marczewski (1961), Prados
de la Escosura (1993).

30



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