It may not display this or other websites correctly. You should upgrade or use an alternative browser. Baro Captain 48 Badges. Apr 19, Despite playing this game since EU3 first came out, I still have no idea how the economics actually work despite trying to read wiki's and such. Trade income When I open up a province it shows me a tax income, but then it also lists goods and the value of the goods.
Which one do I care about and which one actually gives me money? My current understanding is that the trade income is the per-year income that province directly gives to you, while the trade-goods is how much money those good add to the CoT it's hooked up to, and unless you have merchants there it's giving you absolutely nothing.
So my concern is, is it ever worth it to conquer places that aren't hooked up to your own CoT, or at least a CoT you have a high amount of traders in? For instance, I'm colonizing north America and seeing all of my trade is going to Lisbon and my tax income is quite low. Does this mean I'm essentially just wasting my money boosting lisbon's CoT and getting no direct benefit? In my dream world I'd simply run a big empire that made tons of tax income and I never had to play the CoT game, or only had to worry about my own CoT's and all my provinces would trade through them.
Can someone explain things and give me some tips? Dec 17, 0. Trade income is multiplied by your production efficiency and gives production income, which is shown somewhere below tax income. Itself is the value of the good which changes multiplied by the number of units produced and your trade income modifier. Tax income in the base tax of the province plus some more if it's the capital, near your national focus if you play HTTT, or a CoT , multiplied by province AND global modifiers.
Also, tariffs are collected only from distant overseas provinces, and it is basically similar to production income which it replaces , except you multiply by tariff efficiency. All these informations are shown by hovering your mouse over the several informations shown in game. Basically, from where your income derives depends on your country. Tax and production increase with the number of provinces you own. Often, high value goods are produced in high base tax provinces, but it is not always the case.
A country like Sweden, early on, produces a lot of furs, which starts as one of the most interesting goods, in low base tax provinces most are below 4 , so increasing production efficiency is a good idea, while Holland with Zeeland at 10 and Holland at 12 or 13, I think will, at the start, have a very good tax income for a small country, which means better tax modifiers is more useful.
This does not count trading into account. Having more provinces in your CoT increases its trade value, which contributes to its CoT level ducats per level. For every level, you gain 2 bonus gross tax in the province with the CoT. Also, increasing the value of a CoT you trade in easily can be useful, but it is a more indirect effect.
Trading is mostly useful for the smaller countries, though it still is for larger powers to a lesser extent. Basically, if you want to own CoT, go toward mercantilism, if you don't, choose Free Trade.
Trading in your own CoT is only the best option if the compete chances and the CoT value are larger than it others. Your yearly income actually comes from taxes. Monthly taxes go to investments and are only converted to useable money through minting the slider on the treasury page , while yearly taxes are the money you get in your actual treasury.
If you mint to much, however, you will gain inflation, which can be desastrous later if kept unchecked. Lower is better, but most people say you shouldn't exceed 0. Often, you can actually do without minting, especially with, say, England.
However, I don't think my answer is very easy to understand, so Baro said:. Click to expand May 24, 1. Yearly is paid on Jan 1st and is based strictly off the tax value of your provinces. The yearly income all goes into your actual cash pool - this is the money you have to spend to maintain and buy your soldiers, buy buildings or ships, and so on and so forth.
Your monthly income is the second type. By default this income goes into improving your tech or stability, but by minting can be used to generate actual cash money at the cost on of inflation. Chapters are pretty much only concerned with monthly income, as it is by far the more complex of the 2 income types. Chapter 2: Trade Goods and Trade Value Most provinces new colonies and uncolonized provinces are the only exceptions, new colonies gain one eventually produce a trade good.
Each trade good has a global price that is generated by combining factors for every country, the factors varying from good to good -- for example, naval supplies prices go up if a county with a large number of big ships is at war, while spices go up for every marketplace built.
This number is the top of the two price numbers listed by a trade good when you have the province view up. Once the price is determined, you next look at how much is made - overseas provinces will always be 1. Home provinces will get a bonus based on both their tax income and their population - I believe the highest I've seem was 3. A province's trade value is the price of its trade good times what it produces -- for example, if grain is selling at 5. With a high enough compete chance, the COT owner can control a very large percentage of the total trade value.
When your nation discovers a foreign CoT, it will often be closed to your traders. This can be seen in the ledger, where the CoT's name will be listed in red, and in the controlling nations diplomacy screen, where a statement will appear saying "They have closed their market for us".
While owned CoTs provide any nation a passive form of income from trade, the use of merchants is necessary to take full advantage of the trading system.
Merchants that are able to both secure a position in a CoT and hold it for a long time will make a significant amount of money. Success in either endeavor depends on the relative competitiveness of merchants, which is divided into two parts: the chance to out-compete another merchant, and the chance to place a merchant when there is an empty slot. Beginning with NA , it is possible to auto-send merchants.
A CoT has 20 slots for merchants , before it gets full. When the CoT gets full, new merchants must open a new slot by competing an existing one out of the CoT. Once an empty slot is available the chance that the arriving merchant will fill it is the sum of these modifiers:.
Upon arrival to a full CoT a merchant must first compete against a random foreign merchant for a slot. If the new merchant is successful at competing, the foreign merchant is thrown out of a CoT and an empty CoT slot is available.
Then the placement chance of the new merchant will determine whether they will actually manage to get in that newly opened slot. The number of merchants a nation receives per year is determined by the following factors:. Trade Efficiency a. TE is the measure of how effectively a government is able to "tax" merchant income. When viewing any CoT, you can see your merchants' share of the total trade. Trade efficiency determines the percentage of the total trade that a nation receives as monthly income.
This is the money up for grabs for the merchants competing for trade there. The merchants are the engines of commerce. Every country produces a set number of merchants every year, modified by your stability, your nation's slider values, how many centers of trade you own, any Monopolies you have, and whether or not you are at war. They will not do any good in your Merchant Pool, though - you must fund their expeditions to the world's Centers of Trade to compete for the trade passing through them before they can produce wealth for you.
Each Center of Trade has a limited number of 'spaces' that merchants can occupy - merchants occupying a space send a portion of the value of trade back to their home country. If there are free slots at the Center of Trade the merchant is sent to, there is a good chance the merchant will take that space and start sending ducats back, but if there is no free space at the Center of Trade - as is often the case - the merchant will have to compete with another merchant and put them out of business to take their place.
Competition is fierce, especially at the wealthiest Centers of Trade, leading to frequent turnovers of merchants in those locations. The more merchants you have placed in a Center of Trade, the more income you will bring home, but the more likely that incoming merchants will be competing with you for space there.
This is extremely desirable, as a monopoly makes it much harder for your merchants to be unseated and a monopoly transfers any unclaimed wealth in that Center of Trade into your coffers. To establish those monopolies and secure your claim to trade as best you can, you must give your merchants the best chance to compete for trade. Maximizing their competitive chances is the subject of the next section.
The higher your chance to compete, the more chance you will place and keep merchants in Centers of Trade around the world. Therefore, any action that you can take to increase that compete chance is desirable as long as its tradeoffs are acceptable to your plans. The best place to find extra competitiveness is in your policy sliders. Most nations in the game will start with a strong focus on Aristocracy, particularly at the beginning of In Nomine's Grand Campaign, and those nations wanting to become military powers might find it advantageous to maintain that focus for the Aristocracy's positive effects on regiment recruitment costs.
This policy slider usually starts in Mercantilism for most nations, but if you wish to seriously pursue a trading strategy, it should not stay there for long. Mercantilism does confer benefits to competitiveness, but only in Centers of Trade you control, and very few nations will have more than one Center of Trade in their own borders.
Limiting your ability to compete in most trade centers to retain an advantage in keeping other merchants out of your own makes little sense in most strategies. It may take some time to maximize your Free Trade from a Mercantilist beginning, but the benefits are well worth the effort.
Other possibilities include making decisions that favor merchants and competitiveness over other priorities. It is possible to take this as the first National Idea, gaining a serious advantage in competitiveness early in the game, when everyone else is just as Mercantilist and Aristocratic as you are. A serious trading nation will probably pick up both Ideas at some point. Unsurprisingly, investments in Trade Technology also increase your merchant's effectiveness.
Be very careful with whom you sign Trade Agreements. The advantages are rather dubious, and many players never sign any. Other players advise to keep a single TA, but never more than one.
Trade Agreements are binding treaties between two countries that they will not compete against each other economically. This means your merchants will respect each other's positions and not work to put each other out of business in the Centers of Trade both of you occupy.
AI nations tend to start sending Trade Agreement requests to you if you are becoming successful in CoT's where they are trading too. You will no longer have to compete against the nation you sign an agreement with, which could mean you need to send fewer merchants to maintain your market share.
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