Being on the half way of the main water artery of Russia — the Volga, in immediate proximity to Moscow, Nizhniy Novgorod fair was doing the most important function of «exchange courtyard Europe with Asia». Here was the sale of goods produced in the most remote regions of the world, but the main trading on it went with the East: China, Persia and Central Asia, the so-called «key trade with Asia».
Nizhny Novgorod fair was the largest both in turnover and the size of the occupied its territory. Of exceptional importance of Nizhny Novgorod fair in the Russian economy was due to the fact that, while the timing of the last among other all-Russia fairs (from 15 July to 10 September), she summed up the results of a year of work of the whole national economy. It was established prices for basic products (tea, manufacture, metal, fish, salt, bread, fur and other).
International recognition of Nizhny Novgorod fair, it is of great importance for economic development of Russia became the reason that the Nizhny Novgorod became the only non-capital cities, chosen for holding the XVI all-Russia industrial and art exhibition of 1896. This exhibition is considered one of the most significant exhibitions of the XIX century in the world and the most ambitious exhibition in the history of Russia.