ECONOMY

The 16th century was characterized by a population growth in: Castile and in the southern regions (because of the trade with America). However, the Crown of Aragon didn’t increase too much the population.

Agriculture grew progressively as a result of the growth of the population and the demand of America. For this activity, the land (property of nobles and clerics) was limited and the prices of the leases very high. This led to many peasants to mortgaged their farms or borrowed money to lease the land and consequently cultivated in it. In the case that there was a bad harvest, the peasants could not pay, so they lost their land. These lands were given to the nobles and clergy.

There was an expansion of the craft industry thanks to the demand of the American market. It developed:

• Basque metallurgy
• Naval construction of Valencia and Catalonia
• Advances in the textile guilds of Seville, Toledo, Cuenca and Segovia

Trade was the sector that developed most thanks to the exploitation of the New World. The commercial growth was centered in the Castilian cities and the ports of the Atlantic, while the Crown of Aragon and the Mediterranean ports fell by the Turkish presence.