Question

Why did Spain’s economy deteriorate and England’s economy improve in the sixteenth century?

Answer 1

well, in the 16th century, three groups went to the new world and only one was made it through. it wasn't spain it was england so basically they had spent a ton of money on an expidition that didn't even go as planned and then the englanders (idk why I called them that but you get the point) took the east coast and called it New England. I am not really sure how accurate that is, but it was what I was taught; hope it helps good luck.

Answer 2

Spain economy began to decline in the late 16th century because they did not utilize the gold and silver they got from mines in Peru, Bolivia and Mexico. Spanish establish colonies in Central America and found mines of silver and gold which they took back to their home country. By investing money in commerce and farming, they focused on the war in the Netherlands by sending bullion for the Army of Flanders.

England improved its economy by textile production. Queen Elizabeth I increased exports which resulted in more gold and silver to flow into England.