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The amount of profit you get is based on what the faction actually wants to buy, and what you have to sell. It will adjust over time, depending on your available resources (wood, stone etc - trading doesn't actually cost you anything). If you're trading with other factions - and human players generally will be trading more than the AI- you'll get less per faction because you're only only selling some of your trade goods to each individual faction, where as they are likely selling the bulk of their trade goods to you. You'll still be making more in the long run because you are trading with multiple factions.
Example: You produce 50 wood, partner has limit of 20, you sell 20, 30 left to trade.
Each resource has a price per unit. Individual pricing can be found in the trade menu, located at the bottom right.
Example: Wood costs 50 gold, you get 50*20 gold per turn now. Tarifs normally add some negligible values of 50+, so it'll look like this:
50*20+50 per turn.
Tarifs can be improved, though this matters little normally, or a lot relatively speaking, if you have absolutely no resource to trade.
There also exists a personal sales limit, meaning you produce more than you can sell per faction you are trading with.
Many of the mentioned values can be altered by items, followers skills, heroes, etc.
And to finish it off:
You only trade resources the other party does not possess.
The size of a faction determines their buy limits. More territory means they have more demand for goods.
When you get a trade agreement, you sell them a certain amount of every trade good you have, regardless of whether or not they have access to it. If the only goods you and your partner have is Iron, then you’ll trade iron with each other.
You can click the finance tab next to your income at the top of the screen and go to the trade tab. You’ll see which trade goods exist, which you’re importing and which you’re exporting. Mouse over a trade good icon to see how many your faction produces, how many you’re reading away and the % total you trade. If you’re not trading away all of the goods you’re producing of a particular resource, building the trade good building to get you more of that good won’t add more income until you find more trade partners to buy. So, if you have say three lumber yards, you might find that you’re producing way too much lumber and won’t be able to sell enough of it to be worth having that much.
Simply look at whatever goods you’re producing and have idle of, then you can see what the maximum amount you can trade is. So if you’re producing 150 lumber and trading away 80% of it, then you can effectively sell 120 of any given trade good. Any goods you don’t have 120 of will be sold off immediately upon getting access to.
The value of each good is also displayed on the trade tab. These values generally range from 10-20 gold each. Lumber is a 10 gold good typically (without modifiers) so if your lumber yard building produces 20, selling them all is worth 200 gold to you.
The trade tab should teach you everything you need to know.