Spain's Trade Commodities in the 1500s

16th-century Spain, enriched by American colonies and European networks, exported:

• Gold & Silver: From Mexico (Zacatecas) and Peru (Potosí); minted into coins (pieces of eight), fueling global trade and European inflation (Price Revolution).
• Merino Wool: Finest in Europe; exported to Flanders, England, Italy for luxury cloth. Mesta guild controlled transhumance.
• Wine: Rioja, Jerez (sherry), Málaga; shipped to England, Netherlands, Americas.
• Olive Oil: Andalusia; for cooking, lighting, soap; major export to Italy, France, Northern Europe.
• Citrus Fruits: Oranges, lemons, limes from Valencia, Murcia; luxury items in Northern markets.
• Other: Iron (Basque), copper, lead, mercury (Almadén), salt, fish (cod, tuna), leather (Córdobán).

Seville (Casa de Contratación) monopolized American trade; Cadiz later. Wealth financed Habsburg wars but stifled domestic industry (resource curse).