The ancient world - BC

The earliest trade we do know something about is the caravan trade across the deserts of Asia around 2500 BC, to and from cities in Mesopotamia, Egypt, and Arabia. These caravans had to carry fodder for the animals and food for the drivers and merchants. Not much space was left for the cargo. As a result, the goods carried were light but valuable, things such as gold and precious stones - that is, luxuries.

After this, trade by sea started to become more common. The Phoenicians on the coast of Syria are thought to have been the first to develop commerce by sea around 1000 ВС, trading from ports in Syria to Crete, Cyprus, Rhodes, and other Greek islands, and also to North Africa. The Phoenicians were manufacturers. They exported metalware, glassware, and textiles. These were traded for raw materials, especially tin, copper, and silver. This trade also was mainly in luxuries for the ships were small.

The Phoenicians lived at the same time as the Greeks and the Romans. Athens was the first big commercial city in Europe, and it was the first community to import and export necessities (not just luxuries) in large quantities. Grain was imported for the increasing population from the shores of the Black Sea, and exports included figs, olive oil, wine, honey, pottery, metalware, and textiles. Greek armies marched into Persia, Central Asia, and India, and brought back luxury goods such as spices, drugs, and silk.

The ancient world - ad

The Roman Empire (27 ВС—476 ad) was the next big trading community. The city of Rome itself produced little, but it imported a lot. It was the political capital and financial centre of the Empire.

Increasing quantities of luxuries were imported from the east and from North Africa, but these were not bought by the Romans. They were the tax paid to Rome by the various peoples that it had conquered. Imports included tin, slaves, cloth, and jewels. The Romans also traded with China, and brought back silkworms to start a silk industry in Europe.

In the fifth century AD, Byzantium (later called Constantinople, and now Istanbul) became the political capital of the Roman Empire, and remained the world's commercial capital until the 12th century. Its importance was founded on manufacturing textiles, leather work, armour, pottery, and artistic metal work. The Byzantine coin, known as the bezant, became the first single currency of European business.