Entrepôt

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The entrepot dock of Amsterdam completed in 1830 as a warehouse to store goods "entrepot", or tax-free in transit Entrepot dok Kadijksplein Amsterdam.jpg
The entrepot dock of Amsterdam completed in 1830 as a warehouse to store goods "entrepot", or tax-free in transit

An entrepôt (English: /ˈɑːntrəp/ French:  [ɑ̃tʁəpo] ) or transshipment port is a port, city, or trading post where merchandise may be imported, stored or traded, usually to be exported again. These commercial cities spawned due to the growth of long-distance trade. [1] Such centers played a critical role in trade during the days of wind-powered shipping. In modern times customs areas have largely made such entrepôts obsolete, but the term is still used to refer to duty-free ports with a high volume of re-export trade. This type of port should not be confused with the modern French usage of the word entrepôt , meaning warehouse.

Trading post place or establishment where the trading of goods took place

A trading post, trading station, or trading house was a place or establishment where the trading of goods took place; the term is generally used, in modern parlance, in reference to such establishments in historic Northern America, although the practice long predates that continent's colonization by Europeans. The preferred travel route to a trading post or between trading posts, was known as a trade route.

Export shipping the goods and services out of the port of a country

An export in international trade is a good or service produced in one country that is bought by someone in another country. The seller of such goods and services is an exporter; the foreign buyer is an importer.

Age of Sail Era dominated by sailing vesels out at sea

The Age of Sail was a period roughly corresponding to the early modern period in which international trade and naval warfare were dominated by sailing ships, lasting from the mid-16th to the mid-19th century.

Contents

History

Entrepôt were especially relevant in the Middle Ages [ citation needed ] and in the early modern period, when mercantile shipping flourished between Europe and its colonial empires in the Americas and Asia. For example, spice trade in Europe, coupled with the long trade routes necessary for their delivery, led to a much higher market price than the original buying price. Traders often did not want to travel the whole route, and thus used the entrepôts on the way to sell their goods. This could conceivably lead to more attractive profits for those who were suited to travel the entire route. The 17th-century Amsterdam Entrepôt provides an example of such an early-modern entrepôt. [2]

Middle Ages Period of European history from the 5th to the 15th century

In the history of Europe, the Middle Ages lasted from the 5th to the 15th century. It began with the fall of the Western Roman Empire and merged into the Renaissance and the Age of Discovery. The Middle Ages is the middle period of the three traditional divisions of Western history: classical antiquity, the medieval period, and the modern period. The medieval period is itself subdivided into the Early, High, and Late Middle Ages.

The early modern period of modern history follows the late Middle Ages of the post-classical era. Although the chronological limits of the period are open to debate, the timeframe spans the period after the late portion of the post-classical age, known as the Middle Ages, through the beginning of the Age of Revolutions and is variously demarcated by historians as beginning with the Fall of Constantinople in 1453, with the Renaissance period, and with the Age of Discovery, and ending around the French Revolution in 1789.

Examples

Examples of specific entrepôts at various periods include:

See also

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Re-exportation, also called entrepot trade, may occur when one member of a free trade agreement charges lower tariffs to external nations to win trade, and then re-exports the same product to another partner in the trade agreement, but tariff-free. Re-exportation can be used to avoid sanctions by other nations.

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References

  1. Pollard, Elizabeth (2015). Worlds TOgether Worlds Apart. W.W. Norton & Company. p. 343. ISBN   978-0-393-92207-3.
  2. Organized Markets in Pre-industrial Europe (draft chapter of The Origins of Western Economic Success: Commerce, Finance, and Government in Pre-Industrial Europe) – Kohn, Meir, Department of Economics, Dartmouth College, Hanover, 12 July 2003, p. 3