medieval-atlas/economic-development/251

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Overseas trade: the Middle Ages to the sixteenth century Rapid expansion of the wool trade had played a vital part in the economic revolution ofthe twelfth and thirteenth centuries. Even after the introduction ofduty on many other commodities, the duty on wool continued to account for over two-thirds of customs receipts until the late fifteenth century -this despite a worsening slump in wool exports from the end of the fourteenth century onwards. But the wool trade was increasingly concentrated upon Edinburgh, to the detriment ofthe other Scottish burghs. Edinburgh accounted for 70 % of wool exports by the 1470s and 90 % by the 1530s. The market for Scottish wool was in Flanders and northern dl1ibI4 2

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