Manila Galleon Trade

Timeline

1. 1564–1565Cebu and the Philippine archipelago · CebuAndrés de Urdaneta led a Spanish fleet across the Pacific from Mexico, establishing a firm base in Cebu in 1565 and laying the military and administrative foundations for the later Manila hub and transoceanic trade system.
2. 1565Madrid (royal decision) · MadridPhilip II approved annual galleon trade with Acapulco and Manila as fixed ports of departure and arrival, regulating exchange ratios and monopolistic management of silver, silk, and porcelain, making trans-Pacific trade a key link in the Spanish global empire's fiscal and supply system.
3. 1565–1570Acapulco · AcapulcoGalleons carried Chinese porcelain, silk, and Southeast Asian goods from Manila to Acapulco, where they were paid for with Mexican silver pesos and shipped on to Spain and European markets, forming a triangular circulation linking East Asian production, American silver, and European consumption.