Monopoly
Persian filoselle (raw silk)

In the 17th century, Shah Abbas established New Julfa (a suburb in the capital of Isfahan) to concentrate Armenian financial capital in Iran. Accordingly, he gave Armenians various privileges, including the monopoly to trade Persian filoselle (raw silk). Armenians exported it all over the world, including Asia, Europe, and America. By the 1750s, Armenia already controlled 75% of the total silk trade in the area. This resulted in a boom in Armenian commerce, which lasted for the next 150 years. At present, as it happens, Armenia's own economy is itself highly monopolized; in fact, with 19% of its economy monopolized, Armenia was the most monopolized country in Eastern Europe and Central Asia in 2009.
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