New York was established by the Dutch in the 17th century and was known as New Amsterdam until the English took over in 1664. During the Dutch period, New Amsterdam was a major trading center, and its primary exports included furs, tobacco, and timber. The Dutch West India Company held a monopoly on the fur trade in the region and traded with Native American tribes for beaver, otter, and other valuable furs. Tobacco was another important export, and the colony also exported some agricultural products such as wheat and corn. Timber was also a valuable resource, and New Amsterdam exported lumber and other wood products.