In Solomon's time first, the foreign trade of the Israelites to any extent began; chiefly consisting in imports, namely, linen yarn, horses, and chariots from Egypt. For these he paid in gold brought by his fleets, in concert with the Phoenicians, from India, East Africa, and Arabia (1 Kings 10:22-29). He supplied provisions for the workmen in Lebanon, while the Phoenicians brought the timber by sea to Joppa (1 Kings 5:6; 1 Kings 5:9). Israel supplied Tyre with grain, honey, oil, balm, and wine (Ezekiel 27:17; Acts 12:20). Solomon's and the Phoenician united fleets brought on the Indian Ocean, from Ophir to Elath and Ezion Geber on the Elanitic gulf of the Red Sea (ports gained by David from Edom), gold, silver, ivory, Algum (or Almug) trees, and precious stones, peacocks and apes (1 Kings 9:26; 1 Kings 10:11-22). frontALGUM or ALMUG.)
He fortified Baalbek and Palmyra too, as a caravan station for the inland commerce of eastern and south eastern Asia. Oil was exported to Egypt (Hosea 12:1). Fine linen and girdles were sold to merchants (Proverbs 31:24). Jerusalem appears in Ezekiel 26:2 as the rival of Tyre, who exulted at the thought of her fall; "she is broken that was the gates (the mart) of the people, she (i.e. her commerce from Palmyra, Petra, and the East) is turned unto me. I shall be replenished now she is laid waste." Caesarea was made a port by Herod; besides Joppa. The law strictly enjoined fair dealing, and just weights (Leviticus 19:35-36; Deuteronomy 25:13-16).
Fausset, Andrew Robert M.A., D.D., "Definition for 'commerce' Fausset's Bible Dictionary".