How did ww1 affect the Ottoman Empire economy?

How did ww1 affect the Ottoman Empire economy?

The Ottoman Empire’s factories and financial institutions, crucial implements of war making during WWI, were plainly deficient. The import of manufactured goods, stipulated by treaties with European powers, had undermined artisanal production and left the Empire dependent on trade.

What did the Ottoman Empire do economically?

Agriculture. The Ottoman Empire was an agrarian economy, labor scarce, land rich and capital-poor. The majority of the population earned their living from small family holdings and this contributed to around 40 percent of taxes for the empire directly as well as indirectly through customs revenues on exports.

How much money did the Ottoman Empire spend on ww1?

By the end of 1917, the amount of paper money emitted by the OPDA had reached 124,1 million liras, about 90 million liras of which were in circulation in the Ottoman Empire….Foreign Loans and Emissions↑

Month/Year Amount (in Liras) Gold (G) / Treasury bonds (TB)
September 1918 24,000,000 TB
Total 180,527,893

What role did the Ottoman Empire play in ww1?

The Ottoman Empire came into World War I as one of the Central Powers. Ottoman forces fought the Entente in the Balkans and the Middle Eastern theatre of World War I. The Ottoman Empire’s defeat in the war in 1918 was crucial in the eventual dissolution of the empire in 1922.

What made the Ottoman Empire wealthy?

The empire’s success lay in its centralized structure as much as its territory: Control of some of the world’s most lucrative trade routes led to vast wealth, while its impeccably organized military system led to military might. The rest of the Ottoman Empire’s elite had to earn their positions regardless of birth.

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