Area Handbook for Portugal

By Eugene K. Keefe; David P. Coffin et al. | Go to book overview

CHAPTER 14
TRADE, TRANSPORTATION, AND SERVICES

In 1974 the services sector of the Portuguese economy, including trade, transportation, housing, public administration, banking, and miscellaneous services, contributed 40.8 percent to gross domestic product (GDP -- see Glossary) at current prices compared with 38.8 percent in 1963. Although this appeared to represent a small steady gain over the 1963-74 period, there is reason to believe that the gain primarily reflected sharper price increases in this sector than in industry and agriculture. When measured in constant 1963 prices, the sector contributed only 36.8 percent in 1974 -- an actual decline from the 1963 level. In any event the proportion of services to GDP in Portugal is one of the lowest among countries of the Organization for Economic Cooperation and Development (OECD). Only Luxembourg had a lower proportion in 1973, and the other major countries of southern Europe were significantly higher; Spain registered 51.8 percent, Italy 50.0 percent, and Greece 47.2 percent in that year.

Employment in the services sector engaged about 37.4 percent of the work force in 1973 compared with about 30 percent in 1963. In this respect the contrast with other countries of southern Europe was less striking. Spain had a slightly lower share, 35.5 percent; Italy had 38.6 percent and Greece 40.2 percent. Many advanced economies characteristically register half or more of their employed persons in the services sector; the United States, for example, had 64.2 percent so employed in 1973.

The Portuguese economy is marked by a considerable dependence on foreign trade, particularly imports. In 1974, for example, imports equaled about one-third of GDP compared with only about one-fourth as the average for all OECD countries. Exports equaled about onesixth of GDP, which was close to the average of 17.8 percent for all OECD countries. It is apparent from these ratios that a considerable trade deficit existed, and this has been characteristic of Portuguese foreign trade throughout the post-World War II period.

The trade deficit was offset by net revenues from tourism and by remittances from Portuguese emigrants abroad in most years during the 1960s and early 1970s. In 1974, however, income from both these sources declined considerably, and the trade deficit virtually doubled.

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Area Handbook for Portugal
Table of contents

Table of contents

  • Title Page i
  • Foreword iii
  • Preface v
  • Country Profile vii
  • Portugal xi
  • List of Illustrations xii
  • List of Tables xiii
  • Chapter 1 - General Character of the Society 1
  • Chapter 2- Historical Setting 13
  • Chapter 3 - Physical Environment 59
  • Chapter 4 - Population and Living Conditions 81
  • Chapter 5 - Social System 115
  • Chapter 6 - Religious Life 139
  • Chapter 7 - Education and the Arts 167
  • Chapter 8 - Governmental System 193
  • Chapter 9 - Political Dynamics 221
  • Chapter 10 - Foreign Relations 257
  • Chapter 11 - Mass Communications 299
  • Chapter 12 - Character and Structure Of The Economy 311
  • Chapter 13 - Agriculture and Industry 333
  • Chapter 14 - Trade, Transportation, and Services 357
  • Chapter 15 - The Armed Forces 373
  • Chapter 16 - Public Order and Internal Security 397
  • Bibliography 411
  • Glossary 437
  • Index 441
  • Published Area Handbooks 455
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