Economic and Trade benefits Flashcards
All Economic and trade benefits of Empire for Britain
- import agricultural produce as Britain was predominantly an industrial society
- British manufacturing industries sourced materials from empire
- Trading companies benefitted massively and many parts of Empire like White Dominion and India were self financing
- Trade with Empire especially tropical trade
Importance of empire due to the fact Britain was predominant;y an industrial society ?
- it expected the colonies to supply food for a population which was outgrowing the capacity of domestic agriculture
Evidence of food imports from colonies ?
- imported vast quantities of wheat and beef from Canada
- lamb and dairy products from New Zealand
- Empire was the main foreign source of cheese, apples and potatoes
Why was trade with colonies for agricultural produce beneficial for British ?
- this trading supply was considered safe and stable
- it was also cheap because production was under British control
Why did British manufacturing industries sought materials from colonies
- due to the industrial productivity in Britain
What raw materials did British manufacturing industries sought ?
cotton, wool, timber, coal and iron all from the Empire
Why was access of these materials so important for the British ?
Britains economy relied on materials like these to fuel the industry s the economy could keep growing
How did these raw materials create economic gain ?
these raw material supplied home industries and meant that manufactured goods could be sold for profit
Examples of Britain investing heavily into colonies and their infrastructure ?
- railways in India and the Ugandan railway
Aswan Dam - improved infrastructure in many countries
investing in irrigation schemes and land improvements
Impact of the British obtaining these raw materials from the empire ?
- consistent supply
- cheap and with no competition
- influx of materials was stable and consistent, preventing any economic crashes
Cost of running the Empire ?
Many parts of the Empire e.g. the White Dominions and India were self - financing, being run by taxation
Who benefitted massively from the trade with empire ( transport ) ?
- Trading companies benefitted massively due to trade with colonies as they transported goods and materials
Why did transport companies gain ?
- ocean steamships were the main carriers of goods and people across the empire
- orders from British ship builders expanded
- railway also gained huge profit from the growth of the empire
What was the Empire provide Britain with which was extremely helpful and beneficial due to their industrial productivity ?
colonies provided a secure sales markets.
Evidence of trade being beneficial with Empire ?
- relationship between export and import moved abut 10% in Britains favour between 1870- 1914
- As Empire grew British exports increased to empire from 21% to 37.2%. India alone took 20% of British imports