oreign trade has significantly contributed to economic growth, representing between 60% and 70% of GDP in the last decade.

ortuguese foreign trade concentrates strongly in OECD markets, specially in EU countries, which represented about 73% in 1993.

Portugal's major suppliers were, in 1993, Spain (18%), Germany (15%), France (13%), and Italy (9%). Likewise, the most important clients were Germany (20%), France (15%), Spain (15%) and the United Kingdom (11%).

The Portuguese trade with EFTA (European Free Trade Association) is steadily declining, since Portugal has joined the EC. The trade share of North American countries increased in 1993 after a decline during the previous five years.

Angola was in 1993 Portugal's 10th client, being the most important of PSA (Portuguese - Speaking Africa).

Among manufactured goods, the most important are textiles and clothing, which are increasing their Gross Added Value by turning out higher quality and sophisticated design.

Machinery and electrical material are another significant group.

Portuguese exported machinery includes mainly engines, moulds for the plastic industry and machine-tools.

Exported electrical material is composed of cables for the automotive industry, chips and microchips, TV sets, transformers, etc..

Automobile and other transport equipment exports, being the main traded items with some markets, accounts for 6.3% of total, in 1993, thus reflecting recent industrial trends.

     (current prices)

Unit: US$ million (converted at average annual exchange rate)
Source: INE - National Statistics Institute
Notes: (a) Provisional data; Import coverage ratio: Exp/Imp x 100; 1993 figures not comparable with previous years

Wood, cork, paper and pulp produts represented, altogether, 10.5% of total exports in 1993. Portugal is the world leader in the cork market, with a share of approximatelly 60% of total internationally traded cork. Portugal is strongly dependent externally on energy products, which is reflected in import figures. Main increases in recent years have been in manufactured products and equipment, a reflection of the real term GDP growth.



Source: INE - National Statistics Institute
Notes: (a) Provisional data



          Exports                                         Imports