Firstly let's learn about the Ottoman Empire's economic situation before the war.
Capitulations: Economic concession. It first started in 1536 between the Ottoman Empire and France. Later, most of the European countries had this economic concession. It was not useful for the Ottoman Empire but the empire could not cancel it because of its weakness.Before the war, because of the capitulations foreign merchants cleared through the customs without paying any tax. This weakened the Turkish merchants. When the World War I started, the Ottoman Empire stopped capitulations.
Also huge depts weakened the economy of the empire. Most of the depts paid by Turkey later. There were very rare railways and automobiles in the country so transportation was a great problem.Most of the other powerful countries had colonies. Because of that their economies grew rapidly. Also they used the advantage of the industrial revolution. So the Ottoman Empire could not resist them.
European sailors discovered new trade routes. Because of that the Ottoman Empire's economy damaged.
What caused World War I?
The assassination of Archduke Francis Ferdinand triggered World War I. But the war had its origins in developments of the 1800's. The main causes of World War I were: