Scottish trade in the early modern era
Scottish trade in the early modern era includes all forms of economic exchange within Scotland and between the country and locations outwith its boundaries, between the early sixteenth century and the mid-eighteenth. The period roughly corresponds to the early modern era, beginning with the Renaissance and Reformation and ending with the last Jacobite risings and the beginnings of the Industrial Revolution.At the beginning of this period Scotland was a relatively poor country, with difficult terrain and limited transport. There was little trade between different areas of the country and most settlements depended on what was produced locally. International trade followed the format of the Middle Ages, exporting raw materials and importing luxury goods and scarce raw materials. The early sixteenth century saw economic expansion from a low base before the English invasions of the 1540s. The late sixteenth century saw economic distress, inflation and famine, but also greater stability and the beginnings of industrial production as new techniques were imported to the country. The early seventeenth century saw economic expansion until the end of the 1630s, followed by disruption caused by the Bishop's Wars, English Civil Wars and English invasion and occupation.After the Restoration there was a recovery of trade, particularly to England and with the Americas, despite the problems of tariffs. Attempts to establish a Scottish colony in Central America as part of the Darién scheme ended in disaster in the 1690s. After the Union with England in 1707 the cattle trade and coal production continued to expand and the major area of industrial production was linen. There was growing trade with the Americas, which produced the Tobacco Lords of Glasgow, the trade in sugar and rum from Greenock, while Paisley specialised in cloth. There was also the development of financial institutions, such as the Bank of Scotland, Royal Bank of Scotland and British Linen Company, and improvements in roads both of which would help facilitate the Industrial Revolution that would accelerate in the late eighteenth century.