Alternatively, emerging powers may establish entirely new markets to seize control over the flow of goods — a decisive step that can form the foundation of a thriving and independent economy.

Trade
Simply put, trade is the movement of goods between markets. Goods are purchased in one market and sold in another, either to generate profit or to alleviate shortages by supplying a destination market with resources it otherwise struggles to access.

A list of active trades out of the Konstatinyye market as Ottomans in 1419

Trade profit in Europa Universalis V is determined by the price gap between markets: the difference between what a good sells for in the exporting market and what it can fetch in the importing one. From this margin, the maintenance costs of conducting the trade are subtracted. Distance between the two markets, along with any tolls encountered along the route, will steadily erode profits. Making efficient routes and favorable conditions essential for a thriving trade network.

The Kronborg Castle acts as a Sound Toll, taxing all trade that flows through Øresund

As mentioned earlier in this developer diary, not all raw materials are naturally extractable or produceable in every market. Not every market will have gold, silver, copper, mercury or gems. Not every market will be able to produce Lacquerware or Porcelain. Trade will be the only tool at your disposal to relieve the demands of the goods you do not have access to. Without trade, many of your buildings and pops will suffer. Weighing whether it's worth bringing in access to goods, even if it's at a loss, is another strategic decision to be made while playing Europa Universalis 5. A decision you may see yourself doing more than not.