The Byzantine economy was among the most advanced in Europe and the Mediterranean for many centuries. Constantinople was a prime hub in a trading network that at various times extended across nearly all of Eurasia

Eurasia

Eurasia is a continent or supercontinent comprising the traditional continents of Europe and Asia ; covering about 52,990,000 km2 or about 10.6% of the Earth's surface located primarily in the eastern and northern hemispheres...

 and North Africa. Some scholars argue that, up until the arrival of the Arabs in the 7th century, the Empire had the most powerful economy in the world. The Arab conquests, however, would represent a substantial reversal of fortunes contributing to a period of decline and stagnation.