Upload
others
View
1
Download
0
Embed Size (px)
Citation preview
N. Valério – P. Tjipilica Portuguese Colonial Empire
1
IEHC Helsinki 2006Session 103: New Experiences with Historical National Accounts
Economic activity in the Portuguese Colonial Empire: a
factor analysis approach
Nuno Valério (ISEG – Technical University of Lisbon) [valé[email protected]]
Palmira Tjipilica (Catholic University of Angola and Agostinho Neto University)
= paper to be presented to sections 11, on “Africa in the international economy, 1500-2000”,
and 103, on “New experiences with historical national accounts”, at the 14th International Congress of
Economic History, Helsinki, 2006 =
Abstract
This paper presents indexes of economic activity for the territories belonging to the Portuguese
Colonial Empire for the period between the late 19th century and 1973. These indexes were built
using a database that included series of exports, imports, fiscal revenue, public expenditure, money
supply, price indexes and population for each of these territories and a factor analysis technique. A
preliminary analysis is carried out of the results of such an exercise, and these results are then
discussed from the viewpoint of retrospective national accounts.
1 – Introduction
This paper presents indexes of economic activity for the territories belonging to the Portuguese
Colonial Empire for the period between the late 19th century and 1973. These indexes were built
using a database that included series of exports, imports, fiscal revenue, public expenditure, money
supply, price indexes and population for each of these territories and a factor analysis technique.
Section 2 provides a summary of the characteristics and evolution of the fourth Portuguese
colonial empire. Section 3 presents the data used. Section 4 elaborates on the methodology. Section
5 examines the results. Section 6 discusses these results from the viewpoint of retrospective national
accounts.
N. Valério – P. Tjipilica Portuguese Colonial Empire
2
2 – The fourth Portuguese colonial empire
The fourth Portuguese colonial empire was comprised of eight colonies:
a) Cape Verde – The territory of Cape Verde corresponds to the archipelago of the same
name, consisting of ten inhabited islands – Boavista, Brava, Fogo, Maio, Sal, Santa Luzia, Santiago,
Santo Antão, São Nicolau and São Vicente – and various uninhabited islands. It has a total area of
roughly 4 thousand square kilometres. It was settled in the 15th century by a mixed population, the
majority of whom were of African origin and with a minority of inhabitants of European origin. From
then until 1975, Cape Verde had the form of an overseas province or colony, with its capital at Praia1.
b) Portuguese Guinea – From 1879 to 1974, the Portuguese possessions on the coast of
Guinea had the form of an overseas province or colony, known as Portuguese Guinea, with an area
of roughly 36 thousand square kilometres and its capital first at Bolama, and then later (from 1940
onwards) at Bissau.
c) São Tomé and Príncipe – From 1777 to 1975, the Portuguese possessions in the Gulf of
Guinea were comprised of the islands of São Tomé and Príncipe2. These islands formed an overseas
province or colony, with an area of roughly 1 thousand square kilometres and its capital at São
Tomé3.
d) Angola – From the end of the nineteenth century to 1975, the Portuguese possessions in
south-west Africa had the form of an overseas province or colony, known as Angola, with an area of
roughly 1 247 thousand square kilometres and its capital at Luanda.
e) Mozambique – From the end of the nineteenth century to 1975, the Portuguese possessions
in East Africa had the form of an overseas province or colony, known as Mozambique, with an area of
roughly 785 thousand square kilometres and its capital at Lourenço Marques (present-day Maputo).
f) Portuguese India – From the end of the eighteenth century to the mid-twentieth century, the
Portuguese possessions in India had the form of an overseas province or colony, with an area of
roughly 4 thousand square kilometres and its capital at Goa, consisting of the town of Goa and its
1 Until 1879, this colony included the Portuguese possessions on the coast of Guinea.2 Until 1777, this colony also included the islands of Fernando Pó (present-day Bioko) and
Annobón (present-day Pagalu), which were ceded to Spain by the Treaty of Santo Ildefonso signed in
that year.3 This colony included the Portuguese possessions on the coast of the Gulf of Guinea. In the
1880s, Portugal tried to establish a protectorate over the region of Dahomey, which it failed to
achieve as a result of the opposition raised by France. However, it kept control of the fortress of São
João Baptista de Ajudá, which remained part of São Tomé and Príncipe until it was conquered by
Dahomey (present-day Benin) in August 1961.
N. Valério – P. Tjipilica Portuguese Colonial Empire
3
dependencies (the territories of Bardez, Salcete, Bicholim, Canácona, Perném, Pondá, Quepém,
Sangüém and Satari), the town of Damão and its dependencies (the territories of Dadrá and Nagar-
Aveli) and the town of Diu.
g) Macao – Macao was a trading-post established by Portuguese merchants on a peninsula at
the mouth of the Pearl River in the mid-1550s. Taking advantage of the weakness of the Chinese
state in the nineteenth century, the Portuguese government sought to establish its sovereignty over
Macao and the neighbouring islands of Taipa and Coloane, which it had achieved in practical terms
by the middle of the century. Through treaties signed in 1862 and 1887, China recognised the
concession to Portugal of the right to exercise sovereignty over Macao on a perpetual basis.
h) Portuguese Timor – From the mid-nineteenth century to 1975, the eastern half of Timor, the
enclave of Ocussi-Ambeno in the western half of Timor and the islands of Ataúro and Jaco formed an
overseas province or colony, known as Portuguese Timor, with an area of roughly 19 thousand
square kilometres and its capital at Díli. Portuguese Timor was occupied by Australia and the
Netherlands in December 1941 and by Japan in February 1942. Portuguese administration was re-
established in September 1945.
*
The evolution of the fourth Portuguese colonial empire may be divided into three periods:
1) The period of formation, between the 1880s and the immediate post-First World War years –
During this period, while the African archipelagos (Cape Verde and São Tomé and Príncipe) and the
Eastern colonies (India, Macao and Timor) already had stable administrations operating within
undisputed borders, the continental African colonies were still in the making. Based on the fortresses
and settlements established since the fifteenth century on the coasts of Guinea, the Gulf of Guinea,
South-West Africa and East Africa, Portugal tried to build four continental colonies – Guinea,
Dahomey, Angola and Mozambique – and even to link Angola and Mozambique by land (occupying
the territories of what is today Malawi, Zambia and Zimbabwe). The result fell short of Portuguese
dreams, because of the rival endeavours of Belgium, France, Germany and Great Britain in the
various regions under dispute. Besides diplomatic recognition by other European powers (a process
that was completed during the 1880s and 1890s in the wake of the Congress of Berlin held in 1885),
geographical recognition also had to be made of the regions involved (a process that was completed
during the 1870s and 1880s) and a proper administration had to be imposed on previously existing
societies (a process that took the last decade of the 19th century and the first two decades of the 20th
century to be completed).
2) A period of stability, between the 1920s and the 1950s – During this period, the Portuguese
administration established during the period of formation continued to operate without significant
trouble. Two aspects deserve special mention:
N. Valério – P. Tjipilica Portuguese Colonial Empire
4
a) Direct administration by the Portuguese authorities was the norm. Governors were
nominated by the central government, fundamental legal regimes were enacted by parliament or by
the central government, and particular legal regimes were enacted by the governors of each colony.
Mozambique was an exception to this rule. Three companies, the Nyassa Company (Companhia do
Niassa), the Mozambique Company (Companhia de Moçambique) and the Zambezia Company
(Companhia da Zambézia), mainly financed by British capital, administered most of the north and
centre of the colony. The Nyassa Company controlled around 200 thousand square kilometres (more
than a quarter of the area of the colony) in the north. The Mozambique Company controlled around
140 thousand square kilometres (nearly one fifth of the area of the colony) in the centre. The
Zambezia Company controlled around 100 thousand square kilometres (more than one eighth of the
area of the colony), also in the centre. This arrangement remained in force until the Second World
War. By then, financial losses and the pressure exerted by the Portuguese government, which wished
to put an end to these exceptional regimes, forced the companies to quit their administrative role.
b) The inhabitants of the colonial territories were divided into two groups: those of European
origin and the assimilated natives (assimilados – in practice, literate people with permanent jobs in
the modern economic sector) were awarded full citizenship and had the same rights and duties
towards the state as the metropolitan population; the rest of the population, the indigenous people
(indígenas), had separate legal regimes, which meant limited civil rights. Of course, the assimilated
natives were a tiny minority of the native population. Cape Verde was the only territory in which the
whole population enjoyed full citizenship.
3) The final crisis, between the 1950s and 1975 – After the Second World War, the stable
existence of the fourth Portuguese colonial empire gradually came to an end, as the ‘winds of change’
that destroyed the European colonial empires began to blow. First in the East, where China, India and
Indonesia claimed rights over Macao, Portuguese India and Portuguese Timor, respectively. And very
shortly afterwards in the African colonies, where the 1950s witnessed the formation of independence
movements. Portugal tried to respond to these pressures with a constitutional reform that put a formal
end to the colonial situation (1951). From then on, the expressions ‘Colonial Empire’ and ‘colonies’
were banished from official parlance, being replaced by the terms ‘Overseas’ and ‘overseas
provinces’, respectively. As was to be expected, actual transformation fell short of formal
declarations, especially because full citizenship was only extended to the whole population in 1961.
For a while, India was the only claimant to press home its claims by occupying Portuguese India in
two stages (Dadrá and Nagar-Aveli in 1954, and Goa and its dependencies, Damão and Diu in 1961).
The early 1960s saw the beginning of the wars of independence in Angola (1961), Portuguese Guinea
(1962) and Mozambique (1964). In 1966, the ‘great proletarian cultural revolution’ spread to Macao
imposing an informal joint administration of the territory by Communist China and Portugal. Cape
N. Valério – P. Tjipilica Portuguese Colonial Empire
5
Verde, São Tomé and Príncipe, and Portuguese Timor were the only territories where the stable
Portuguese administration continued.
The intensity of the guerrilla warfare and the pressure exerted by the neighbours of the Eastern
colonies varied widely from case to case, but, in the end, they undermined the Portuguese will to
remain a colonial power. By the mid-1970s, the fourth Portuguese colonial empire had disappeared:
a) The independence of Guinea-Bissau was proclaimed on 24 September 1973 and recognised
by Portugal on 10 September 1974.
b) India’s sovereignty over the former Portuguese India was recognised by Portugal through
Constitutional Law No. 9/74 of 15 October 1974.
c) Cape Verde became independent on 5 July 1975.
d) São Tomé and Príncipe became independent on 12 July 1975.
e) Mozambique became independent on 25 July 1975.
f) The independence of Angola was proclaimed on 11 November 1975 simultaneously by two
governments, one headed by the Popular Movement for the Liberation of Angola (MPLA – Movimento
Popular de Libertação de Angola) based in Luanda and the other resulting from an alliance between
the National Front for the Liberation of Angola (FNLA – Frente Nacional de Libertação de Angola) and
the National Union for the Total Independence of Angola (UNITA – União Nacional para a
Independência Total de Angola) based in Huambo4.
g) Portugal recognised that Macao was Chinese territory in 1974, and in 1987 a joint
declaration was issued by China and Portugal, setting a timetable for the transfer of the
administration of the territory from Portugal to China – there would be a period of transition from 1990
to 1999, followed by the effective transfer of the administration in 1999; Macao would maintain its
status as a special administrative region at least between 1999 and 2049.
h) The outbreak of a civil war in August 1975 between the Popular Democratic Association of
Timor (APODETI – Associação Popular Democrática de Timor), the Revolutionary Front for an
Independent East Timor (FRETILIN – Frente Revolucionária de Timor-Leste Independente) and the
Timor Democratic Union (UDT – União Democrática de Timor) meant the de facto end of Portuguese
sovereignty over the territory of Portuguese Timor, which was thereafter referred to in common
parlance as East Timor. As a result of these events, Indonesia invaded the territory of East Timor and
occupied it in December 1975. The next year, East Timor was formally annexed by Indonesia. This
annexation was, however, never recognised, neither by Portugal nor by the United Nations and was
contested through armed resistance and diplomatic means by FRETILIN and UDT, which later joined
together to form the Timor National Resistance Council (CNRT – Conselho Nacional de Resistência
4 There was already a civil war being fought between these two governments and this was to
continue after independence until the early 21st century.
N. Valério – P. Tjipilica Portuguese Colonial Empire
6
Timorense), until 1999. In May of that year, an agreement was signed between Portugal and
Indonesia for the holding of a referendum, with the population of the territory being asked to choose
between the territory’s being integrated into Indonesia as an autonomous region and its complete
independence. The referendum was held in August of the same year, with the voters clearly declaring
themselves to be in favour of independence. Still in the same year, the administration of the territory
was formally handed over to the United Nations Organisation as the first stage in the process of
transition to independence, which was achieved in 2002.
3 – Data
As might be expected, statistical data on the Portuguese colonial empire is very scanty with
regard to the period of formation. Some information was irregularly published in Portuguese statistical
yearbooks (Anuário Estatístico de Portugal), and the first issue of a Colonial Statistical Yearbook
(Anuário Estatístico Colonial) was published in 1917, but the administration in general and the
statistical apparatus in particular were still insufficiently installed to provide satisfactory results.
The situation gradually improved during the period of stability. Information was regularly
published in Portuguese statistical yearbooks from the 1930s onwards, the Colonial Statistical
Yearbook resumed publication as from 1943, and statistical yearbooks for the various colonies
(Anuário Estatístico da Colónia de Cabo Verde, later Anuário Estatístico da Província de Cabo Verde,
and mutatis mutandis for the other colonies5) began to appear. Regular publication started in 1929 for
Mozambique, 1932 for Portuguese India, 1933 for Angola and Cape Verde, and after the Second
World War for the other territories. Moreover, the administration in general and the statistical
apparatus in particular became capable of providing better quality results.
The situation did not explicitly change during the final crisis period, although it must be taken
into account that the work of the administration in general and the statistical apparatus in particular
was disturbed by the guerrilla wars in Angola, Guinea-Bissau and Mozambique, and, of course,
ceased completely in Portuguese India after it was occupied by India. Publication of the Colonial
Statistical Yearbook and the statistical yearbooks for the various colonies continued uninterrupted
until 1973.
As a result, it is possible to build databases for the various territories using the various issues
of the Portuguese Statistical Yearbook, the Colonial Statistical Yearbook and the statistical yearbooks
for the various colonies as sources. This is a task that is being undertaken at the Economic and
Social History Research Centre (GHES – Gabinete de História Económica e Social) at the Institute of
5 In the case of India, Anuário Estatístico do Estado da Índia. Also Anuário Estatístico do
Estado de Angola and Anuário Estatístico do Estado de Moçambique in 1972 and 1973.
N. Valério – P. Tjipilica Portuguese Colonial Empire
7
Economics and Management (ISEG – Instituto Superior de Economia e Gestão) of the Technical
University of Lisbon (UTL – Universidade Técnica de Lisboa) by Sandra Domingos Costa. The time
series of the main macroeconomic variables included in the statistical appendix form the statistical
basis of this paper.
4 – Methodology
The building of an index of economic activity for each territory followed three steps:
1) Building of a nominal index, based on a factor analysis of the nominal values of the following
macroeconomic variables: exports, imports, fiscal revenue, government expenditure and money
supply.
2) Deflating the nominal index to obtain a real index, through the use of a price index (when
available).
3) Dividing the real index by the population to obtain an average welfare index.
Of course, these calculations were often made difficult by a lack of data, and special care had
to be taken to avoid meaningless operations. The following remarks give an account of the main
problems we had to face.
Data
The definition of foreign trade and public finance variables presents no significant problems.
Commodity exports are valued fob (free on board); commodity imports are valued cif (cost, insurance
and freight); fiscal revenue corresponds to the total of taxes on income, tariffs, taxes on expenditure,
production and consumption and taxes on property; public expenditure includes all expenditure on
goods, services and factors, current and capital transfers and subsidies, investment and asset
acquisition, including all debt service. All figures are expressed in Portuguese monetary units (million
réis until 1911, thousand escudos from 1911 onwards). Officially, the whole Portuguese Colonial
Empire shared the monetary unit of Portugal proper, the real (legally defined as 1.626 mg of gold),
until 1911, the escudo (legally defined as 1.626 g of gold), between 1911 and 1931, the new escudo
(legally defined as 65.51 mg of gold), after 1931. In practice, the Portuguese monetary unit did not
maintain its official gold value after 1891, nor did the current monetary units of the different colonies
coincide with the Portuguese monetary unit, because each colony had its own circulating medium. In
spite of all the efforts made, transfer premiums existed for the exchange between the means of
payment used in the colonial territories and the means of payment used in Portugal proper. These
premiums varied from colony to colony and with time. Thus, comparisons between the figures for
different territories must be made with extreme caution.
N. Valério – P. Tjipilica Portuguese Colonial Empire
8
Some problems arise with the definition of the term money supply. The means of payment
used in each territory of the Portuguese Colonial Empire consisted of: a) local coins, usually minted at
the Lisbon Mint and issued by the local government; b) local banknotes issued by the National
Overseas Bank [Banco National Ultramarino], or by the Bank of Angola [Banco de Angola] in the case
of Angola from 1926 onwards; c) deposits at local commercial or savings banks (of which the only
important one was the National Overseas Bank, or the Bank of Angola in the case of Angola from
1926 onwards, except in the cases of Angola and Mozambique, where more diversified banking
systems were developed during the last two decades of colonial rule). For most territories, it is only
possible to present figures for M0 (coins + banknotes). Figures for M1 (M0 + sight deposits) and for
M2 (M1 + time deposits) are only available for Angola and Mozambique. We used M2 figures in these
two cases.
Factor analysis
The period for which databases have no missing variables varies greatly from territory to
territory. Angola’s database presents the longest period without any missing variables (39 years, from
1935 to 1973). Most databases for African territories have missing values until the first half of the
1940s and most databases for Asian territories have missing values until the second half of the
1940s. Portuguese India’s database presents an exceptionally short period without missing variables
(only 10 years, from 1951 to 1960).
In most cases, calculations produced a clearly dominant factor, which can be used as a
nominal index of economic activity without much hesitation. The cases of Cape Verde and
Portuguese Guinea are exceptions, as shown by the relevant indicators of the following table:
territory period variance
explained
minimum
correlation
of first
factor
factor
score
exports
factor
score
imports
factor
score
fiscal
revenue
factor
score
public
expen-
diture
factor
score
money
supply
Angola 1935-
1973
0.980 0.978
(imports)
0.201 0.198 0.201 0.201 0.199
Cape
Verde
1940-
1972
0.728 -0.417
(exports)
-0.127 0.223 0.302 0.300 0.302
Portuguese
Guinea
1940-
1972
0.799 -0.261
(exports)
-0.071 0.268 0.266 0.269 0.268
Portuguese 1951- 0.833 0.858 0.205 0.183 0.190 0.210 0.212
N. Valério – P. Tjipilica Portuguese Colonial Empire
9
territory period variance
explained
minimum
correlation
of first
factor
factor
score
exports
factor
score
imports
factor
score
fiscal
revenue
factor
score
public
expen-
diture
factor
score
money
supply
India 1959 (imports)
Macao 1947-
1973
0.968 0.959
(fiscal rev.)
0.200 0.201 0.195 0.202 0.202
Mozam-
bique
1940-
1973
0.964 0.951
(M2)
0.198 0.202 0.203 0.203 0.194
São Tomé
and P.
1944-
1973
0.853 0.726
(exports)
0.158 0.211 0.214 0.208 0.209
Portuguese
Timor
1947-
1972
0.946 0.954
(exports)
0.197 0.197 0.203 0.203 0.200
In the case of Cape Verde, there are two eigenvalues greater than one; in the case of
Portuguese Guinea, the second eigenvalue is close to one. This suggests a breakdown between two
groups of variables: in the case of Cape Verde, foreign trade variables form one group, while public
finance variables and money supply form another group; in the case of Portuguese Guinea, exports
form one group, the other variables form another group. However, in both cases, dropping exports
from the analysis is enough to produce much better results, and we preferred to retain a maximum of
variables, even in the case of Cape Verde.
This leads to the following figures:
territory period variance
explained
minimum
correlation
of first
factor
factor
score
exports
factor
score
imports
factor
score
fiscal
revenue
factor
score
public
expen-
diture
factor
score
money
supply
Cape
Verde
1940-
1972
0.878 0.806
(imports)
— 0.216 0.261 0.262 0.261
Portuguese
Guinea
1940-
1972
0.985 0.991
(fiscal
revenue)
— 0.250 0.250 0.250 0.250
N. Valério – P. Tjipilica Portuguese Colonial Empire
10
Nominal indexes were extended (mostly backwards) for those years for which there were
incomplete data, as long as there were at least two variables that were not either foreign trade or
public finance variables in the databases. Of course, figures for earlier years, especially before what
we have called the stable period of the fourth Portuguese Colonial Empire, must be treated with great
caution.
Deflating
Price indexes started to be built in 1914 in Angola6 and Cape Verde7 and in 1939 in Portuguese
Guinea, Macao, Mozambique and São Tomé and Príncipe, but were never built in Portuguese India
and Portuguese Timor. No surrogates (for instance, implicit price indexes of foreign trade) were
available for territories and periods for which no price indexes existed. Thus, it was impossible to
deflate a significant part of nominal indexes, and it is hard to believe that the undeflated series always
correspond to situations of stable prices. We will come back to this issue in the comments made in
section 5.
Population
Estimates of the population of each territory have been available since the early 20th century,
but proper censuses only began to be held during the interwar years. The results of the censuses held
during the period of stability are reliable, and it is possible to project them backwards and to combine
the results of the censuses held during the colonial war period with estimates of the distortions caused
by the military operations to produce reliable estimates for almost all territories for the whole period
under consideration. However, we must bear in mind that, until the 1920s, most of the territory of the
continental African colonies was not under effective Portuguese administration. Thus, economic
figures (e.g. fiscal revenue) do not refer to the whole of the territory of the colonies, and per capita
calculations using the population of the whole territory give a distorted picture of the situation. We will
also come back to this issue in the comments made in section 5.
6 Angola’s price index ceased to be constructed after 1961, but it is possible to use implicit
price indexes of foreign trade as a surrogate for the 1960s and early 1970s.7 The Cape Verde price index presented some missing values during the interwar period, which
were filled through geometric interpolation of existing values.
N. Valério – P. Tjipilica Portuguese Colonial Empire
11
5 – Results
In this section, we will attempt to make a preliminary commentary on the indexes, which are
presented in the statistical appendix together with the database used to produce them. Of course, full
examination of the results must be based on the consideration of qualitative and quantitative data,
which it was impossible to gather and process at this stage of our work.
Angola
The per capita index for Angola (see Chart 1) remained below 10% of the 1973 level until the
mid-1940s, except for a brief flare-up on the eve of the Great Depression, experiencing a fivefold
increase between the immediate post-World War II period and the late 1950s, stagnating for a while
during the late 1950s, and resuming its growth pattern during the 1960s, more than doubling until the
eve of independence.
Most of this evolution is hardly surprising. It is likely that the implementation of a stable
Portuguese administration, fostering links between the economy of Angola and the world economy,
stimulated a spurt in growth during the 1920s, but this development was cut short by the problems of
the world economy linked to the Great Depression, and later to the Second World War. A new
positive trend resulted from the post-World War II growth in the international economy, and this was
maintained during the 1960s in spite of the colonial war, because guerrilla operations did not disturb
the main economic centres (except for a short period in 1961) and the presence of increased
numbers of Portuguese troops and their expenditure even stimulated the economy.
The only intriguing point is the short-term interruption in growth that occurred during the late
1950s. Pending further detailed study of the situation during these years, the reasons for this must
remain an open issue8.
Cape Verde
The per capita index for Cape Verde (see chart 2) shows sharp rises and falls throughout the
period from the 1870s till the 1970s, in spite of the long-term upward trend, which brought about an
overall tenfold increase. The long-term upward trend may be considered to present a genuine picture
8 Carlos Rocha Dilolwa (Contribuição à história económica de Angola. Luanda: Nzila, 1978)
suggests this was the consequence of the reduction of American demand of some important Angolan
exports because of the so-called second Eisenhower recession. It is tempting to suggest that this hic
cup of growth helped to create the short term background for the outbreak of the independence war.
N. Valério – P. Tjipilica Portuguese Colonial Empire
12
of the gradual improvement in the economic situation of the territory. The sharp short-term
fluctuations may be attributed to several causes: (i) the poor quality of statistical data; (ii) the short-
term distress caused to economic life in Cape Verde, mainly resulting from recurrent episodes of
drought; (iii) the impact on Cape Verde of the evolution of international events.
Several characteristics made Cape Verde quite distinct from the other territories that formed
the Portuguese Colonial Empire. As pointed out above, it was the only territory in which the whole
population had enjoyed full citizenship since the 19th century. Literacy reached a high level, not only
in the context of the Portuguese Colonial Empire, but also in the African context in general. However,
the sterility of the soil and droughts put pressure on people to emigrate, firstly to other Portuguese
colonies located on the west coast of Africa (where Cape Verdians formed a significant part of the
administrative staff), and then later to Portugal proper and to foreign countries (such as the
Netherlands and the United States of America). On the other hand, remittances from emigrants
helped to sustain the domestic economy. All these facts help to explain the good performance of the
Cape Verdian economy in the long term.
Among the short-term disturbances to the economic life of Cape Verde, emphasis should be
placed on those relating to the activity of its main port, Mindelo. For several periods, this port played
a significant role as a provider of shipping along the western coast of Africa. However, during the
1960s, competition from Dakar and boycotts by countries opposed to the Portuguese colonial policy
were very detrimental to such a role, as shown by the figures for foreign trade.
Portuguese Guinea
The per capita index for Portuguese Guinea (see Chart 3) starts at an unbelievably low level
(less than 1% of the 1973 level) at the beginning of the 20th century, remaining at this level until the
First World War, experiencing a sharp increase until the mid-1920s and showing some wild
fluctuations until the late 1920s. All these movements are most likely just the consequence of the
poor quality of data for this period (including the absence of a price index for the period of the First
World War and the immediate postwar years.
From the 1930s onwards, the index shows a gentle upward trend, which may be interpreted as
representing a genuine picture of the evolution of the economy in the territory. The outbreak of the
colonial war does not seem to have disturbed the positive trend during the 1960s, a fact that may be
explained by the stimulating effects of military expenditure, in spite of the undoubted impact of the
war on the economic life of the territory, which was too small to benefit from the distance between the
main guerrilla areas and the main economic centres that existed in the cases of Angola and
Mozambique. However, there seems to have been some curbing of the positive trend in the early
N. Valério – P. Tjipilica Portuguese Colonial Empire
13
1970s, perhaps reflecting the increased guerrilla pressure that led to the proclamation of
independence in 1973 and the recognition of Guinea as an independent state in 1974.
Portuguese India
The per capita index for Portuguese India (see Chart 4) shows a vigorous upward trend
between the mid-1920s and the late 1930s, implying a tenfold increase, a mild U-shaped evolution
during the Second World War period, and again a vigorous upward trend during the late 1940s and
1950s, implying a new tenfold increase.
Such huge increases in the level of economic activity are quite unbelievable. The increases in
the index are most likely the result of the poor quality of statistical data (especially for the period
between the mid-1920s and the late 1930s) and the absence of proper deflation of the figures
(especially for the period of the late 1940s and the 1950s). The plausibility of the general trends must
remain an unsettled question, pending further detailed analysis of the other qualitative and
quantitative data available. However, it is not unlikely that there was a genuine upward trend in the
indexes for reasons that bear some similarity with the case of Cape Verde: Goa enjoyed relatively
high literacy levels and played an important role in providing administrative staff for the eastern parts
of the Portuguese Colonial Empire (from Mozambique to Timor).
Macao
The per capita index for Macao (see Chart 5) had very low levels (clearly below 10% of the
1973 level) until the mid-1940s (except for 1940, which reached around 9% of the 1973 level). In the
case of the Second World War years, this might be explained by the isolation and population glut
brought about by the Japanese military operations in the neighbouring regions. In the case of the
other (isolated) years, this is perhaps just the consequence of the poor quality of the available data.
The late 1940s were a period of growth, which accelerated during the 1950s, bringing the level
of the per capita index to more than half the 1973 level. The evolution of the international economy
and the reduction in the population in the wake of the end of the Chinese civil war may explain such
an evolution.
There then followed a period of significant fluctuations, but no decisive trend, until 1968. This
may be the consequence of the upheavals in neighbouring Communist China, which culminated in
the crisis that broke out in December 1966, and led to the informal participation of the Chinese
Communist Party in the administration of the territory.
N. Valério – P. Tjipilica Portuguese Colonial Empire
14
Growth resumed between 1968 and 1972 (followed by a significant drop in 1973). Stabilization
in Communist China and the continuation of the growth of the international economy may explain this
evolution.
Mozambique
The huge increase in the per capita index for Mozambique (see Chart 6) for the second decade
and the first half of the third decade of the 20th century is quite implausible, and should be regarded
as the consequence of the lack of coverage of the data used for the early years and a lack of proper
deflation of the figures.
Figures for the mid-1920s, somewhat above 10% of the 1973 levels, and the ensuing evolution
may be regarded with more confidence. There was some growth during the second half of the 1920s,
mild U-shaped movements corresponding to the 1930s and the first half of the 1940s, and steady
growth thereafter, except for two short periods of recession in the late 1940s and late 1960s.
It is possible to explain the growth in the second half of the 1920s as the result of the
implementation of a stable Portuguese administration, fostering links between the economy of
Mozambique and the world economy; the U-shaped movements of the 1930s and the first half of the
1940s as consequences of the Great Depression and the Second World War, respectively; and the
growth between the mid-1940s and the early 1970s as the result of the post-World War II growth in
the international economy. As in the case of Angola, growth was maintained during the 1960s in spite
of the colonial war, because guerrilla operations did not disturb the main economic centres and the
presence of increased numbers of Portuguese troops and their expenditure even stimulated the
economy.
Also, as in the case of Angola, short-term interruptions to growth in the late 1940s and late
1960s must remain open issues, pending further detailed study of the situation during these years.
São Tomé and Príncipe
The per capita index for São Tomé and Príncipe (see Chart 7) starts in the early 1940s at a
level around 25% of the 1973 level, showing a significant rise during the second half of the 1940s and
a stagnating trend throughout the third quarter of the 20th century.
The situation during the first half of the 1940s may be interpreted as the consequence of the
depressing effect that the international situation linked to the Second World War had on the economy
of São Tomé and Príncipe. The boom of the second half of the 1940s may be interpreted as the
consequence of the lifting of such a depressing effect. The stagnation of the following quarter of the
century may be interpreted as the consequence of the specialization of the economy of São Tomé
N. Valério – P. Tjipilica Portuguese Colonial Empire
15
and Príncipe in a staple crop – cacao – which did not experience a very positive evolution in
international markets, both for general reasons and because of the boycott on Portuguese products
by countries that actively opposed Portuguese colonial policy.
Portuguese Timor
The per capita index for Portuguese Timor (see Chart 8) was at a level of around 5% of the
1973 level during the 1930s and in 1946. Then there was a threefold increase to 1947, and growth
remained the trend at an accelerated pace until 1973.
These figures must be treated with great caution, because of the absence of a proper deflator.
It is plausible that 1946 was a particularly unfavourable year because it immediately followed the end
of the Japanese occupation, but it is surprising that it was at the same level as in the 1930s. Growth
between 1946 and 1973 must be regarded as quite normal, but the twenty-fold increase is surprising
because the undoubted low level of welfare existing on the eve of the end of Portuguese rule makes
it unlikely that the Timorese survived with such a low level of economic activity in the 1940s (and
1930s). Thus, it is probable that proper deflation would raise the figures for the 1930s in relation to the
level for 1946, and make the 1947-1973 growth a bit less steep.
6 – A comment from the viewpoint of retrospective national
accounts
It is tempting to try to use the indexes of economic activity built in this paper as proxies for
nominal, real and per capita gross domestic product indexes. We believe such an approach is worth
trying, but must be surrounded by many caveats.
First of all, it is necessary to take into account all the weaknesses in the data, which make
many calculations meaningless. In the previous section, we discussed several cases in which this
kind of problem arose. These (unreliable) figures are presented in the statistical appendix and
discussed mostly as an illustration of this first type of problem.
Secondly, comparisons must be made between qualitative information and the quantitative
data available by sector. This is a task that we have just started and is only very slightly touched upon
in this paper.
Thirdly, it must be remembered that ratios of foreign trade and public finance to gross domestic
product usually increase over time, as economies become more open to international relations and
the public sector increases its supply of public goods. Unfortunately, the factor analysis technique
tends to iron out these increases in the indexes that it produces. It is likely that there is some
N. Valério – P. Tjipilica Portuguese Colonial Empire
16
transformation (perhaps an elasticity factor of less than one) which links the evolution of the indexes
built in this paper to a true evolution in the gross domestic product.
Anyway, we believe this kind of exercise is useful, and look forward to exchanging views about
its possible improvement in Helsinki.
Statistical appendix
Angola
Angola
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1866 ? ? ? ? 0,04 ? ? — — —
1867 1 1 ? ? 0,05 ? ? 0,03 — —
1868 ? ? ? ? 0,07 ? ? — — —
1869 ? ? ? ? 0,09 ? ? — — —
1870 2 2 ? ? 0,1 ? ? 0,06 — —
1871 2 2 ? ? 0,3 ? ? 0,06 — —
1872 2 2 ? ? 0,3 ? ? 0,06 — —
1873 ? ? ? ? 0,3 ? ? — — —
1874 2 2 0,3 ? ? 0,06 — —
1875 ? ? ? ? 0,2 ? ? — — —
1876 ? ? ? ? 0,2 ? ? — — —
1877 ? ? ? ? 0,2 ? ? — — —
1878 ? ? ? ? 0,2 ? ? — — —
1879 ? ? ? ? 0,3 ? ? — — —
1880 2 2 ? ? 0,3 ? ? 0,06 — —
1881 2 2 ? ? 0,2 ? ? 0,06 — —
1882 2 2 ? 0,5 0,1 ? ? 0,06 — —
1883 2 2 ? 0,5 ? ? ? 0,09 — —
1884 2 3 ? 0,6 ? ? ? 0,1 — —
1885 2 2 ? 0,7 ? ? ? 0,1 — —
1886 1 2 ? 0,9 ? ? ? 0,08 — —
1887 2 3 ? 1 ? ? ? 0,1 — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
17
Angola
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1888 2 3 ? ? ? ? ? — — —
1889 3 4 ? ? ? ? ? — — —
1890 4 4 ? ? ? ? ? — — —
1891 5 5 ? ? ? ? ? — — —
1892 5 5 ? ? ? ? ? — — —
1893 7 6 ? ? ? ? ? — — —
1894 5 6 ? ? ? ? ? — — —
1895 6 5 ? ? ? ? ? — — —
1896 6 5 ? ? ? ? ? — — —
1897 7 6 ? ? ? ? ? — — —
1898 8 7 ? ? ? ? ? — — —
1899 8 7 ? ? ? ? ? — — —
1900 6 7 1 ? ? ? 2716 0,4 — 77
1901 4 4 0,8 ? ? ? 2736 0,2 — 48
1902 3 3 ? ? ? ? 2756 — — —
1903 5 6 ? ? ? ? 2776 — — —
1904 5 7 ? ? ? ? 2797 — — —
1905 5 6 ? ? ? ? 2817 — — —
1906 4 6 ? ? ? ? 2838 — — —
1907 4 6 ? ? ? ? 2859 — — —
1908 4 5 ? ? ? ? 2880 — — —
1909 5 6 ? ? ? ? 2901 — — —
1910 8 9 ? ? ? ? 2922 — — —
1911 6 6 ? ? ? ? 2942 — — —
1912 7 5 2 5 ? ? 2963 0,3 — 68
1913 6 6 ? 3 ? ? 2983 0,3 — 61
1914 4 5 2 4 ? 100 3004 0,3 31 60
1915 6 6 1 4 ? 129 3025 0,3 28 54
1916 7 9 1 4 ? 155 3046 0,4 28 55
1917 5 6 ? ? ? 209 3067 — — —
1918 7 9 ? ? ? 265 3088 — — —
1919 13 11 ? ? ? 388 3109 — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
18
Angola
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1920 19 25 ? ? ? 714 3131 — — —
1921 30 46 ? ? ? 932 3142 — — —
1922 112 109 ? ? ? 1342 3154 — — —
1923 201 234 ? ? ? 2272 3165 — — —
1924 276 333 ? ? ? 5112 3176 — — —
1925 234 253 ? 163 ? 3726 3188 13 41 76
1926 200 234 ? 186 ? 3470 3199 13 42 78
1927 213 284 ? ? ? 2871 3211 — — —
1928 272 270 ? 181 ? 2595 3223 15 66 120
1929 282 314 ? 195 ? 2471 3234 16 76 138
1930 234 246 ? 190 ? 2331 3246 14 68 123
1931 204 147 ? 190 ? 2338 3258 11 55 99
1932 200 191 ? 143 55,1 2289 3269 7 36 64
1933 247 176 ? 146 162,1 2329 3281 9 44 78
1934 242 167 ? 153 180 2426 3293 9 43 76
1935 222 165 105 151 163 2539 3305 9 41 72
1936 308 147 105 166 180 2529 3388 10 46 79
1937 344 215 109 214 161 2564 3472 12 52 88
1938 339 232 114 202 203 2628 3559 12 53 88
1939 364 228 120 223 224 2650 3647 13 56 90
1940 373 228 126 223 210 3021 3738 13 49 77
1941 434 233 136 256 248 3524 3777 15 47 74
1942 480 328 149 283 315,02 4134 3816 17 48 74
1943 593 355 168 336 515 4690 3856 22 54 82
1944 612 388 203 373 389 5088 3896 22 49 74
1945 638 531 236 431 492 5300 3936 26 56 84
1946 962 800 281 481 555 5592 3977 34 70 104
1947 981 962 318 672 1047 6360 4018 44 80 117
1948 1091 1216 355 725 1244 5274 4060 52 112 162
1949 1793 1337 426 956 1290 5194 4102 65 143 204
1950 2169 1666 559 943 1748 5406 4145 79 167 237
1951 3189 2179 749 1079 2438 5035 4188 108 244 343
N. Valério – P. Tjipilica Portuguese Colonial Empire
19
Angola
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1952 2752 2627 864 1291 2709 5168 4230 114 253 351
1953 3534 2436 956 1248 1468 5168 4274 108 238 328
1954 2957 2754 961 1572 1819 4982 4318 112 258 351
1955 2805 2688 1007 1609 2040 4956 4362 113 261 352
1956 3289 3162 1069 2180 2350 5088 4459 135 302 399
1957 3363 3536 1062 2248 2759 5141 4559 145 322 415
1958 3689 3738 1103 2228 3981 5247 4661 165 358 452
1959 3587 3768 1061 2425 3677 5247 4765 162 353 435
1960 3565 3670 1031 2633 3755 5194 4871 164 360 434
1961 3874 3268 1040 3118 4225 5300 4876 174 374 451
1962 4264 3898 1425 3028 4746 5592 4945 194 396 471
1963 4684 4212 1583 4672 4858 5706 5015 224 447 525
1964 5868 4714 1740 4275 5567 6048 5084 248 468 541
1965 5747 5601 1874 4969 6283 6390 5154 274 488 557
1966 6359 5948 1997 5351 7085 6618 5223 299 515 580
1967 6838 7909 2336 5899 8036 7132 5293 347 554 616
1968 7788 8710 2994 7649 10290 7417 5362 418 644 706
1969 9387 9261 3595 8967 12428 8045 5432 488 692 749
1970 12172 10595 4203 10290 17042 8330 5673 607 831 862
1971 12147 12128 4367 12079 22112 8844 5715 702 906 932
1972 13923 10728 5610 13281 26375 9585 5798 781 930 944
1973 19158 13269 7305 15734 34002 11411 5882 1000 1000 1000
Cape Verde
Cape
Verde
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1864 0,2 0,2 ? ? ? ? 73 — — —
1865 0,2 0,2 ? ? ? ? 74 — — —
1866 0,3 0,3 ? ? ? ? 75 — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
20
Cape
Verde
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1867 0,3 0,2 ? ? ? ? 75 — — —
1868 0,2 0,2 ? ? ? ? 75 — — —
1869 0,2 0,3 ? ? ? ? 75 — — —
1870 0,2 0,3 ? ? ? ? 76 — — —
1871 0,2 0,3 ? 0,1 ? ? 76 0,2 — 71
1872 0,3 0,3 0,2 0,2 ? ? 78 0,4 — 116
1873 0,3 0,3 0,2 0,2 ? ? 81 0,4 — 111
…
1875 0,2 0,5 0,1 ? ? ? 85 0,6 — 159
1876 0,3 0,6 ? ? ? ? 88 — — —
1877 0,2 0,7 ? ? ? ? 90 — — —
1878 0,3 0,5 ? ? ? ? 93 — — —
1879 0,3 0,8 ? ? ? ? 96 — — —
1880 0,3 0,9 ? ? ? ? 98 — — —
1881 0,3 0,9 ? ? ? ? 101 — — —
1882 0,2 1 ? ? ? ? 104 — — —
1883 0,2 1 ? ? ? ? 107 — — —
…
1885 0,2 0,8 ? 0,4 ? ? 111 0,8 — 148
…
1891 0,2 1 ? ? ? ? 128 — — —
1892 0,3 1 ? ? ? ? 129 — — —
1893 0,4 1 ? ? ? ? 131 — — —
1894 0,3 1 ? ? ? ? 134 — — —
1895 0,5 1 ? ? ? ? 136 — — —
1896 0,4 2 0,3 0,3 ? ? 138 1 — 227
1897 0,3 2 0,3 0,3 ? ? 141 1 — 223
1898 0,2 2 0,3 0,5 ? ? 143 2 — 239
1899 0,3 2 ? ? ? ? 145 — —
1900 0,4 3 0,4 ? ? ? 147 3 — 509
…
1910 0,3 1 ? ? ? ? 148 — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
21
Cape
Verde
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1911 0,3 1 ? ? ? ? 148 — — —
1912 0,2 1 0,4 0,4 ? ? 149 1 — 152
1913 0,4 2 0,4 0,4 ? ? 149 2 — 229
1914 0,3 2 0,4 0,7 ? 100 149 2 143 257
1915 0,3 3 0,3 0,5 ? 143 149 2 119 214
1916 0,3 5 0,4 0,4 ? 205 149 3 125 225
1917 0,3 3 0,3 0,7 ? 293 149 2 62 111
1918 0,4 2 ? ? ? ? 149 — — —
1919 0,7 8 ? ? ? ? 149 — — —
1920 0,9 26 ? ? ? 856 149 — — —
1921 1 31 ? ? ? ? 148 — — —
1922 2 40 ? ? ? ? 148 — — —
1923 2 63 ? ? ? ? 148 — — —
1924 5 62 ? ? ? ? 148 — — —
1925 6 61 ? ? ? 2201 148 — — —
1926 3 47 5 13 2151 148 37 137 249
1927 3 60 9 13 ? 2102 148 46 177 320
1928 2 63 ? 17 ? 2054 147 49 194 353
1929 4 81 ? 16 ? 2008 147 59 238 434
1930 4 66 ? 20 ? 1962 146 53 219 402
1931 2 63 ? 20 14 1915 149 53 223 402
1932 2 65 ? 20 12 1870 151 53 228 404
1933 3 47 ? 19 10 1826 153 41 184 322
1934 3 48 ? 21 10 1782 157 43 197 336
1935 3 51 ? 27 11 1740 159 49 228 385
1936 3 64 ? 18 10 1718 162 50 233 386
1937 3 105 ? 17 11 1611 166 70 353 570
1938 118 107 ? 16 11 1585 170 71 361 569
1939 85 80 ? 31 12 1656 174 67 327 503
1940 156 111 11 18 12 1822 181 75 331 490
1941 49 46 ? 16 13 1744 174 41 190 293
1942 20 69 9 27 18 1981 160 63 256 428
N. Valério – P. Tjipilica Portuguese Colonial Empire
22
Cape
Verde
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1943 29 58 9 20 19 2235 158 54 196 332
1944 25 56 8 26 21 2346 161 57 197 328
1945 149 150 11 23 20 2378 166 100 341 550
1946 221 297 14 27 21 2568 169 173 544 863
1947 206 223 14 44 18 3091 155 146 383 662
1948 239 405 17 67 21 3630 140 247 551 1054
1949 179 252 15 64 19 3788 139 172 367 709
1950 228 246 15 35 21 3582 148 154 348 630
1951 225 246 18 35 26 3510 152 159 365 644
1952 239 260 18 37 24 3582 157 165 373 636
1953 293 272 19 35 27 3475 162 172 400 662
1954 426 428 23 42 35 3618 167 255 570 914
1955 279 336 24 48 34 3546 172 216 492 766
1956 288 308 23 73 39 3761 177 219 471 713
1957 347 378 25 87 44 3833 183 263 555 813
1958 302 369 28 83 48 3976 188 261 530 756
1959 320 379 27 97 51 3761 194 274 590 815
1960 306 349 30 178 61 3833 200 313 661 886
1961 28 186 30 129 56 3904 203 207 429 567
1962 22 197 32 129 57 4191 209 214 413 530
1963 24 170 33 105 62 4621 216 191 335 416
1964 28 201 42 130 67 4657 220 228 395 482
1965 28 228 45 134 77 4693 224 250 430 515
1966 33 244 61 174 89 4585 231 295 521 605
1967 31 259 70 193 99 4764 238 324 550 619
1968 41 282 76 233 114 4728 245 369 631 690
1969 45 418 84 276 120 4943 250 464 759 814
1970 48 469 90 293 140 5596 272 512 740 729
1971 46 573 104 460 160 6439 272 673 846 833
1972 48 657 122 579 179 7091 270 800 912 906
1973 48 833 ? ? 214 8087 268 1000 1000 1000
N. Valério – P. Tjipilica Portuguese Colonial Empire
23
Portuguese Guinea
Port.
Guinea
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1864 0,1 0,2 ? ? ? ? ? — — —
1865 0,2 0,2 ? ? ? ? ? — — —
1866 0,2 0,2 ? ? ? ? ? — — —
1867 0,1 0,2 ? ? ? ? ? — — —
1868 0,1 0,2 ? ? ? ? ? — — —
1869 0,1 0,2 ? ? ? ? ? — — —
1870 0,1 0,1 ? ? ? ? ? — — —
1871 0,1 0,3 ? ? ? ? ? — — —
1872 0,3 0,2 ? ? ? ? ? — — —
1873 0,3 0,2 ? ? ? ? ? — — —
1874 0,3 0,2 ? ? ? ? ? — — —
1875 0,3 0,3 ? ? ? ? ? — — —
1876 0,2 0,2 ? ? ? ? ? — — —
1877 0,3 0,3 ? ? ? ? ? — — —
1878 0,3 0,3 ? ? ? ? ? — — —
1879 ? ? 0,04 ? ? ? ? — — —
1880 ? ? 0,06 ? ? ? ? — — —
1881 ? ? 0,04 ? ? ? ? — — —
…
1887 ? ? ? 0,1 ? ? ? — — —
1888 ? ? ? 0,1 ? ? ? — — —
1889 ? ? ? 0,1 ? ? ? — — —
…
1891 0,2 0,3 ? ? ? ? ? — — —
1892 0,2 0,4 ? ? ? ? ? — — —
1893 0,3 0,5 ? ? ? ? ? — — —
1894 0,2 0,3 ? ? ? ? ? — — —
1895 0,2 0,3 ? ? ? ? ? — — —
1896 0,4 0,5 ? ? ? ? ? — — —
1897 0,1 0,3 ? ? ? ? ? — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
24
Port.
Guinea
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1898 0,2 0,5 ? ? ? ? ? — — —
1899 0,3 1 ? ? ? ? ? — — —
1900 0,4 1 0,1 ? ? ? 240 1 — 6
…
1906 ? ? ? 0,3 ? ? ? — — —
1907 ? ? ? 0,4 ? ? ? — — —
1908 ? ? ? 0,3 ? ? ? — — —
1909 0,5 1 ? 0,4 ? ? 261 1 — 6
1910 1 2 0,4 0,3 ? ? 264 1 — 9
1911 1 1 0,4 0,4 ? ? 266 1 — 6
1912 1 1 0,5 0,4 ? ? 269 1 — 6
1913 2 2 0,5 ? ? ? 271 2 — 13
1914 1 1 0,4 ? ? ? 274 1 — 7
1915 1 1 0,5 ? ? ? 276 1 — 8
1916 2 3 0,5 0,3 ? ? 279 2 — 12
1917 3 2 0,7 0,6 ? ? 282 2 — 10
1918 2 4 1 ? ? ? 285 4 — 25
1919 4 5 2 ? ? ? 287 5 — 34
1920 10 16 3 ? ? ? 290 15 — 92
1921 9 20 4 ? ? ? 293 19 — 116
1922 13 22 6 ? ? ? 296 22 — 133
1923 30 35 17 ? ? ? 298 40 — 246
1924 48 62 17 ? ? ? 301 61 — 370
1925 46 50 18 ? ? ? 304 53 — 316
1926 34 38 16 ? ? ? 307 42 — 248
1927 34 34 20 ? ? ? 310 42 — 246
1928 51 37 ? 22 ? ? 313 34 — 197
1929 45 41 ? 23 ? ? 316 37 — 212
1930 ? ? ? 25 ? ? 319 — — —
1931 ? ? ? 24 ? ? 322 — — —
1932 ? ? ? 22 ? ? 325 — — —
1933 ? ? ? 21 ? ? 328 — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
25
Port.
Guinea
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1934 22 20 ? 21 ? ? 331 24 — 130
1935 29 26 ? 21 ? ? 335 27 — 147
1936 39 33 ? ? ? ? 338 — — —
1937 39 37 ? 27 ? ? 341 37 — 197
1938 32 29 ? 26 8 ? 344 29 — 156
1939 35 26 ? 25 8 100 348 28 105 144
1940 49 28 22 22 9 120 351 34 108 147
1941 65 49 22 23 11 131 364 44 129 170
1942 50 62 21 29 15 165 378 54 124 157
1943 97 95 24 30 19 206 393 71 131 160
1944 64 55 26 37 25 234 408 60 98 115
1945 94 83 28 42 26 221 424 76 130 147
1946 93 96 29 34 29 231 440 79 131 142
1947 120 145 33 54 35 243 457 113 177 185
1948 129 185 46 59 39 238 474 139 223 225
1949 161 142 45 72 39 245 492 126 196 190
1950 128 128 43 80 46 249 511 126 192 180
1951 143 162 49 88 56 242 512 150 237 221
1952 188 217 59 80 49 254 513 171 257 239
1953 180 161 60 96 53 264 513 156 226 210
1954 186 172 64 96 53 251 514 163 247 229
1955 153 187 62 109 57 264 515 175 253 235
1956 203 198 66 114 73 251 516 191 289 268
1957 187 232 68 150 78 251 517 223 338 313
1958 200 244 72 151 73 254 517 228 342 317
1959 199 243 72 151 78 256 518 230 342 315
1960 126 322 64 141 69 261 519 252 367 338
1961 211 292 75 166 70 259 522 255 375 343
1962 189 343 85 163 83 269 523 285 404 369
1963 166 407 83 173 101 266 524 323 462 421
1964 156 431 98 197 114 266 525 355 508 462
1965 106 419 116 223 124 271 526 373 523 476
N. Valério – P. Tjipilica Portuguese Colonial Empire
26
Port.
Guinea
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1966 85 434 120 266 133 294 527 403 522 474
1967 91 472 124 297 142 276 528 438 6038 546
1968 87 507 135 306 155 284 529 466 626 565
1969 105 672 149 392 183 289 530 590 778 702
1970 90 786 171 519 240 301 487 725 917 900
1971 57 879 192 603 258 269 486 817 1157 1138
1972 69 867 186 552 325 349 482 816 892 884
1973 80 1077 ? ? 384 381 478 1000 1000 1000
Portuguese India
Port.
India
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1890 0,7 1 ? ? ? ? 555 — — —
1891 0,7 1 ? ? ? ? 553 — — —
1892 1 2 ? ? ? ? 550 — — —
1893 1 2 ? ? ? ? 548 — — —
1894 1 2 ? ? ? ? 545 — — —
1895 0,6 1 ? ? ? ? 544 — — —
1896 0,6 2 ? ? ? ? 541 — — —
1897 0,5 2 ? ? ? ? 539 — — —
1898 0,4 2 ? ? ? ? 537 — — —
1899 0,6 2 ? ? ? ? 534 — — —
1900 ? ? 0,6 ? ? ? 532 — — —
…
1904 ? 5 ? ? ? ? 538 — — —
1905 ? 5 ? ? ? ? 539 — — —
1906 ? 5 ? ? ? ? 541 — — —
1907 ? 6 ? ? ? ? 543 — — —
1908 ? 6 ? ? ? ? 544 — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
27
Port.
India
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1909 2 6 ? ? ? ? 546 — — —
1910 1 2 ? ? ? ? 548 — — —
1911 1 4 ? ? ? ? 548 — — —
1912 1 3 ? ? ? ? 546 — — —
1913 1 3 ? ? ? ? 545 — — —
1914 1 3 ? ? ? ? 543 — — —
1915 1 3 ? ? ? ? 542 — — —
1916 1 3 ? ? ? ? 540 — — —
1917 1 4 ? ? ? ? 539 — — —
1918 4 11 ? ? ? ? 537 — — —
1919 4 14 ? ? ? ? 536 — — —
1920 4 14 ? ? ? ? 534 — — —
1921 4 15 ? ? ? ? 532 — — —
1922 4 17 ? ? ? ? 538 — — —
1923 4 16 ? ? ? ? 543 — — —
1924 5 16 ? ? ? ? 548 — — —
1925 4 15 ? ? ? ? 553 — — —
1926 4 16 ? ? ? ? 557 — — —
1927 4 17 ? 5 ? ? 562 10 — 12
1928 5 16 ? 54 ? ? 567 32 — 35
1929 5 17 ? 42 ? ? 572 27 — 30
1930 ? ? ? 50 ? ? 577 — — —
1931 ? ? ? 57 ? ? 580 — — —
1932 ? ? 5 51 ? ? 587 — — —
1933 ? ? 5 36 ? ? 591 — — —
1934 23 116 ? 45 ? ? 596 74 — 78
1935 21 117 ? 51 ? ? 601 76 — 80
1936 20 109 ? ? ? ? 606 — — —
1937 24 116 ? 79 ? ? 611 90 — 92
1938 18 96 ? 56 ? ? 616 69 — 70
1939 19 95 ? 48 ? ? 621 66 — 66
1940 20 102 ? 63 ? ? 624 75 — 76
N. Valério – P. Tjipilica Portuguese Colonial Empire
28
Port.
India
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1941 18 102 ? 46 ? ? 626 67 — 67
1942 22 101 30 41 ? ? 628 73 — 73
1943 27 120 27 53 ? ? 629 86 — 85
1944 36 167 32 44 ? ? 630 104 — 104
1945 68 224 36 50 ? ? 632 141 — 141
1946 39 182 39 54 ? ? 633 117 — 116
1947 41 273 50 60 ? ? 634 157 — 155
1948 59 299 54 77 ? ? 636 182 — 180
1949 52 322 48 76 ? ? 637 185 — 182
1950 57 475 55 89 ? ? 638 250 — 245
1951 152 521 67 96 163 ? 638 298 — 292
1952 241 545 74 111 185 ? 640 346 — 339
1953 380 551 81 130 211 ? 641 408 — 399
1954 318 445 70 149 219 ? 642 365 — 356
1955 337 729 77 223 300 ? 644 503 — 489
1956 496 684 83 240 323 ? 645 555 — 538
1957 673 850 106 291 397 ? 646 704 — 682
1958 537 874 97 279 376 ? 648 655 — 633
1959 710 751 155 344 499 ? 637 753 — 740
1960 1033 1031 179 365 ? ? 626 1000 — 1000
Macao
Macao
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1880 7 9 ? ? ? ? 68 — — —
1881 6 10 ? ? ? ? 68 — — —
1882 7 8 ? ? ? ? 67 — — —
1883 6 9 ? ? ? ? 67 — — —
1884 6 9 ? ? ? ? 67 — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
29
Macao
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1885 7 10 ? ? ? ? 67 — — —
1886 8 9 ? ? ? ? 67 — — —
1887 5 6 ? ? ? ? 67 — — —
1888 8 8 ? ? ? ? 66 — — —
1889 7 7 ? ? ? ? 66 — — —
1890 8 9 ? ? ? ? 66 — — —
1891 10 10 ? ? ? ? 66 — — —
1892 8 10 ? ? ? ? 66 — — —
1893 10 11 ? ? ? ? 65 — — —
1894 10 12 ? ? ? ? 65 — — —
1895 10 12 ? ? ? ? 65 — — —
1896 10 10 ? ? ? ? 65 — — —
1897 10 11 ? ? ? ? 65 — — —
1898 10 11 ? ? ? ? 65 — — —
1899 10 12 ? ? ? ? 64 — — —
1900 9 11 ? ? ? ? 64 — — —
…
1911 ? ? ? 0,7 ? ? 76 — — —
1912 ? ? ? 0,7 ? ? 77 — — —
1913 ? ? ? 0,7 ? ? 78 — — —
1914 ? ? ? 0,7 ? ? 78 — — —
1915 ? ? ? 0,8 ? ? 79 — — —
1916 11 18 ? ? ? ? 80 — — —
1917 11 17 ? 0,9 ? ? 81 4
1918 12 15 ? ? ? ? 82 — — —
1919 13 16 ? ? ? ? 83 — — —
1920 16 21 ? ? ? ? 84 — — —
1921 17 28 ? ? ? ? 92 — — —
1922 15 23 ? ? ? ? 100 — — —
1923 18 31 ? ? ? ? 110 — — —
1924 16 27 ? 5 ? ? 120 7 — 15
1925 16 30 ? 6 ? ? 131 8 — 15
N. Valério – P. Tjipilica Portuguese Colonial Empire
30
Macao
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1926 19 25 ? ? ? 144 — — —
1927 10 25 ? 5 ? ? 157 — — —
1928 9 24 ? 39 ? ? 163 — — —
1929 ? ? ? 46 ? ? 169 — — —
1930 11 21 ? 29 ? ? 175 9 — 13
1931 ? ? ? 30 ? ? 182 — — —
1932 ? ? ? 29 ? ? 189 — — —
1933 ? ? ? 62 ? ? 196 — — —
1934 ? ? ? 56 ? ? 204 — — —
1935 ? ? ? 50 ? ? 211 — — —
…
1937 ? ? ? 33 ? ? 227 — — —
1938 ? ? ? 40 ? ? 236 — — —
1939 ? ? ? 54 ? 100 245 — — —
1940 4 17 1 47 48 124 375 16 133 90
1941 6 8 2 40 42 256 375 13 54 36
1942 2 37 10 39 49 493 375 18 39 26
1943 8 57 14 46 60 800 375 24 32 22
1944 6 83 19 57 76 928 375 32 36 25
1945 6 18 23 76 99 806 375 29 39 26
1946 13 47 31 64 95 622 337 33 56 42
1947 10 25 38 49 87 551 303 28 53 44
1948 17 82 45 63 108 594 273 42 74 69
1949 10 176 56 91 147 519 245 63 129 134
1950 13 172 40 91 131 635 188 59 98 133
1951 18 181 31 96 127 597 186 60 106 144
1952 18 112 25 109 134 666 184 53 84 115
1953 94 581 28 123 151 743 182 129 184 256
1954 80 559 30 95 125 442 180 117 281 396
1955 199 310 29 94 ? 423 178 92 230 327
1956 183 368 30 100 ? 431 176 99 243 350
1957 204 528 29 110 139 442 174 133 320 465
N. Valério – P. Tjipilica Portuguese Colonial Empire
31
Macao
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1958 215 585 26 145 171 453 173 151 353 516
1959 279 782 29 147 176 474 171 186 417 617
1960 310 873 29 116 145 482 169 194 427 640
1961 414 912 34 136 170 481 181 220 484 677
1962 477 1083 41 202 243 483 233 270 592 643
1963 599 1202 50 209 259 503 279 306 645 585
1964 631 1388 59 257 316 531 282 350 698 626
1965 615 1349 67 269 336 530 280 348 696 628
1966 691 1469 73 293 366 530 278 382 763 694
1967 716 1228 58 277 335 535 268 345 683 645
1968 810 1440 56 283 339 569 254 386 720 717
1969 1073 1710 63 278 341 593 244 457 817 847
1970 1215 1868 71 305 376 641 248 506 836 853
1971 1383 2124 89 353 442 688 249 579 892 906
1972 1946 2814 108 432 540 731 251 770 1117 1125
1973 2460 3714 142 563 705 1060 253 1000 1000 1000
Mozambique
Mozam-
bique
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1873 ? ? ? 0,2 ? ? ? — — —
…
1876 1 1 ? ? ? ? ? — — —
1877 0,8 0,9 ? ? ? ? ? — — —
1878 0,9 1 ? ? ? ? ? — — —
1879 0,9 1 ? ? ? ? ? — — —
1880 1 2 ? ? ? ? ? — — —
…
1883 ? ? ? 0,8 ? ? ? — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
32
Mozam-
bique
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
…
1885 1 1 ? ? ? ? — — —
1886 1 2 ? ? ? ? — — —
…
1891 1 3 ? ? ? ? ? — — —
1892 2 3 ? ? ? ? ? — — —
1893 1 3 ? ? ? ? ? — — —
1894 1 3 ? ? ? ? ? — — —
1895 1 4 ? ? ? ? ? — — —
1896 1 6 ? ? ? ? ? — — —
1897 2 8 ? ? ? ? ? — — —
1898 1 9 2 ? ? ? ? 0,6 — —
1899 2 7 2 ? ? ? ? 0,5 — —
1900 7 11 ? ? ? ? ? — — —
…
1908 ? ? 3 ? ? ? 2731 — — —
1909 ? ? 3 ? ? ? 2815 — — —
1910 2 6 3 ? ? ? 2901 0,5 — 6
1911 2 7 3 ? ? ? 2989 0,6 — 6
1912 2 9 3 ? ? ? 3081 0,7 — 7
1913 2 8 3 0,7 ? ? 3175 0,4 — 4
1914 2 8 4 ? ? ? 3260 0,7 — 7
1915 ? ? 4 ? ? ? 3348 — — —
1916 9 13 4 ? ? ? 3438 1 — 12
1917 14 16 4 ? ? ? 3477 2 — 15
1918 10 23 5 ? ? ? 3517 2 — 17
1919 13 28 6 ? ? ? 3557 2 — 21
1920 17 33 9 1 ? ? 3596 2 — 16
1921 173 238 10 ? ? ? 3635 20 — 182
1922 220 381 17 ? ? ? 3674 29 — 265
1923 356 554 30 ? ? ? 3714 44 — 399
1924 374 608 37 ? ? ? 3754 48 — 428
N. Valério – P. Tjipilica Portuguese Colonial Empire
33
Mozam-
bique
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1925 307 483 49 64 ? ? 3795 25 — 222
1926 265 192 168 ? 83 ? 3836 15 — 127
1927 289 289 186 378 80 ? 3876 19 — 168
1928 361 481 ? 322 78 ? 3916 21 — 181
1929 337 505 ? 304 79 ? 3956 21 — 177
1930 289 553 ? 332 81 ? 3996 21 — 180
1931 216 481 ? 314 82 ? 4104 19 — 152
1932 192 313 ? 341 121 ? 4213 17 — 131
1933 198 329 ? 317 127 ? 4321 17 — 128
1934 203 294 ? 295 118 ? 4430 16 — 117
1935 222 291 ? 328 131 ? 4539 17 — 122
1936 288 337 ? 380 146 ? 4647 20 — 141
1937 362 429 ? 432 141 ? 4756 23 — 164
1938 179 488 ? 412 485 ? 4864 27 — 183
1939 177 482 ? 558 540 100 4973 30 115 201
1940 173 432 214 629 489 110 5086 31 108 184
1941 199 443 224 578 541 120 5148 31 101 170
1942 339 550 225 512 630 131 5210 36 105 175
1943 389 559 320 566 630 141 5274 39 106 175
1944 558 616 351 672 744 145 5338 47 124 201
1945 464 759 388 767 867 169 5403 51 117 188
1946 966 1127 445 884 862 181 5468 68 144 229
1947 839 1517 472 957 685 184 5535 71 149 233
1948 1249 1880 522 1460 735 190 5602 93 188 292
1949 966 1751 528 1366 1050 194 5670 90 178 273
1950 1064 1649 536 1371 981 196 5739 89 175 264
1951 1255 2044 670 1629 1080 200 5818 106 204 305
1952 1542 2288 719 1762 1701 209 5898 127 234 344
1953 1774 2401 796 1954 1617 205 5979 135 254 369
1954 1719 2568 790 2227 1187 204 6061 135 255 365
1955 1528 2587 829 2836 1335 205 6145 145 272 385
1956 1515 2736 914 3002 1799 205 6229 158 297 414
N. Valério – P. Tjipilica Portuguese Colonial Empire
34
Mozam-
bique
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1957 1872 2996 978 3177 2087 213 6315 176 319 438
1958 2029 3305 1116 3799 2278 216 6402 199 354 481
1959 1904 3452 1147 4091 3617 220 6490 225 394 527
1960 2099 3646 1200 4628 3909 211 6579 245 448 591
1961 2733 3930 1220 4226 4072 210 6657 256 470 613
1962 2616 3908 1566 4765 4107 215 6742 269 482 620
1963 2896 4075 1590 4903 4321 218 6828 282 498 634
1964 3043 4489 1629 4967 4794 223 6913 299 517 650
1965 3106 4984 1729 5446 5253 226 6999 325 553 686
1966 3223 5976 1879 5863 6161 237 7084 366 594 728
1967 3500 5725 2144 6341 7259 246 7170 395 619 750
1968 4459 6736 2452 7221 8631 250 7274 466 718 857
1969 4080 7481 2906 8115 10165 251 7360 517 794 937
1970 4497 9302 3183 8884 11686 268 8234 593 851 898
1971 4613 9639 3461 10515 14491 341 8356 674 761 791
1972 4768 8911 3713 12404 23650 365 8519 840 886 903
1973 5541 11415 4205 14471 27954 385 8685 1000 1000 1000
São Tomé and Príncipe
STP
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1879 0,5 0,4 ? ? ? ? 22 — — —
1880 0,5 0,4 ? ? ? ? 22 — — —
1881 0,6 0,5 ? ? ? ? 23 — — —
1882 0,6 0,4 ? ? ? ? 24 — — —
…
1890 1 1 ? ? ? ? 31 — — —
1891 1 1 ? ? ? ? 32 — — —
1892 1 1 ? ? ? ? 33 — — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
35
STP
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1893 1 1 ? ? ? ? 34 — — —
1894 2 1 ? ? ? ? 35 — — —
1895 2 1 ? ? ? ? 36 — — —
1896 2 1 ? ? ? ? 37 — — —
1897 2 1 ? ? ? ? 38 — — —
1898 3 2 ? ? ? ? 39 — — —
1899 3 2 ? ? ? ? 41 — — —
1900 4 2 0,4 42
1901 5 3 ? ? ? ? 43 — — —
1902 5 3 ? ? ? ? 43 — — —
1903 6 2 ? ? ? ? 44 — — —
1904 7 3 ? ? ? ? 45 — — —
1905 7 3 ? ? ? ? 46 — — —
1906 7 2 ? ? ? ? 46 — — —
1907 7 3 ? ? ? ? 47 — — —
1908 8 3 ? ? ? ? 48 — — —
1909 9 3 ? ? ? ? 49 — — —
1910 9 3 ? ? ? ? 49 — — —
1911 8 4 ? ? ? ? 50 — — —
1912 8 3 0,9 0,9 ? ? 51 14 — —
1913 8 4 0,9 1 ? ? 52 16 — —
1914 7 4 0,8 0,8 ? ? 53 14 — —
1915 6 4 0,6 0,8 ? ? 54 13 — —
1916 8 6 0,6 1 ? ? 54 18 — —
1917 7 6 ? ? ? ? 55 — — —
1918 4 6 ? ? ? ? 56 — — —
1919 19 7 ? ? ? ? 57 — — —
1920 7 11 ? ? ? ? 58 — — —
1921 19 12 ? ? ? ? 59 — — —
1922 44 16 ? ? ? ? 59 — — —
1923 44 28 ? 3 ? ? 59 95 — —
1924 97 40 ? 7 ? ? 59 177 — —
N. Valério – P. Tjipilica Portuguese Colonial Empire
36
STP
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1925 69 31 ? 8 ? ? 59 135 — —
1926 52 36 ? ? ? ? 59 — — —
1927 94 33 ? ? ? ? 59 — — —
1928 72 42 ? 11 ? ? 59 159 — —
1929 74 47 ? 12 ? ? 59 170 — —
1930 32 39 ? 13 ? ? 60 113 — —
1931 34 20 ? 12 ? ? 60 86 — —
1932 33 19 ? 12 ? ? 60 83 — —
1933 ? ? ? 8 ? ? 60 — — —
1934 26 16 ? 8 ? ? 60 65 — —
1935 32 19 ? 9 ? ? 60 77 — —
1936 33 18 ? 9 ? ? 60 77 — —
1937 46 21 ? 10 ? ? 60 97 — —
1938 35 19 ? 11 ? ? 60 84 — —
1939 37 20 ? 11 3 100 60 87 — —
1940 43 21 8 9 ? 107 60 94 211 268
1941 49 20 5 9 ? 120 60 94 190 240
1942 55 26 7 10 ? 136 60 112 199 252
1943 44 23 7 10 ? 153 60 97 153 194
1944 99 34 13 12 5 172 60 171 240 303
1945 63 38 10 17 6 194 60 146 182 231
1946 122 53 16 25 7 195 60 238 295 373
1947 222 80 20 24 ? 193 60 385 482 610
1948 220 109 24 36 10 181 60 424 566 717
1949 140 127 20 35 11 173 60 367 512 649
1950 210 109 25 43 12 177 60 427 582 738
1951 217 150 31 54 13 154 60 507 794 1005
1952 194 135 28 52 12 164 61 460 676 842
1953 246 117 30 54 13 167 61 491 710 885
1954 248 125 29 42 ? 167 62 507 732 897
1955 162 125 29 42 ? 167 62 422 609 747
1956 173 132 32 48 ? 167 62 454 656 804
N. Valério – P. Tjipilica Portuguese Colonial Empire
37
STP
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1957 210 130 29 67 15 167 63 492 710 857
1958 231 128 30 76 16 174 63 523 726 875
1959 187 159 34 75 15 176 64 523 717 851
1960 212 135 35 87 17 176 64 535 732 870
1961 161 141 35 111 18 176 63 527 722 871
1962 152 130 39 104 18 179 59 502 678 874
1963 159 136 40 99 21 181 58 514 687 900
1964 162 144 42 104 21 183 58 536 707 927
1965 146 145 44 122 22 189 61 549 701 874
1966 177 158 52 115 24 188 62 597 767 940
1967 227 156 57 125 28 196 63 664 818 986
1968 249 183 63 134 32 201 64 741 889 1056
1969 248 224 69 172 39 203 66 855 1015 1169
1970 237 261 72 175 41 211 69 900 1028 1133
1971 188 221 69 185 42 227 74 816 866 890
1972 198 215 68 171 52 235 75 811 832 843
1973 323 247 80 181 58 241 76 1000 1000 1000
Portuguese Timor
Port.
Timor
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1934 5 4 ? 13 ? ? 458 32 ? 46
1935 4 6 ? 18 ? ? 461 41 ? 58
1936 3 3 ? ? ? ? 464 — — —
1937 2 6 ? 12 ? ? 464 29 ? 41
1938 8 5 ? ? ? ? 464 — — —
1939 6 5 ? ? ? ? 464 — — —
1940 4 4 ? ? ? ? 464 — — —
…
N. Valério – P. Tjipilica Portuguese Colonial Empire
38
Port.
Timor
year
exports imports fiscal
revenue
public
expen-
diture
M0 price
index
popu-
lation
nominal
index
real
index
per
capita
index
1946 7 2 10 9 ? ? 431 35 ? 53
1947 5 27 16 37 15 ? 425 103 ? 157
1948 6 51 15 46 18 ? 420 139 ? 216
1949 13 38 20 53 20 ? 431 147 ? 223
1950 29 40 21 50 28 ? 442 171 ? 253
1951 32 45 23 54 34 ? 449 192 ? 278
1952 48 51 26 64 38 ? 456 231 ? 331
1953 52 64 31 73 39 ? 463 264 ? 372
1954 39 63 29 69 41 ? 471 246 ? 340
1955 38 71 29 64 42 ? 478 249 ? 339
1956 39 57 34 75 41 ? 486 251 ? 337
1957 39 61 35 70 42 ? 493 252 ? 333
1958 52 71 35 69 44 ? 501 276 ? 359
1959 46 57 36 71 44 ? 509 259 ? 332
1960 31 68 36 83 36 ? 517 259 ? 327
1961 32 74 35 105 42 ? 520 294 ? 369
1962 36 78 36 121 ? ? 527 339 ? 419
1963 45 76 42 116 ? ? 535 348 ? 425
1964 54 89 43 118 ? ? 544 379 ? 454
1965 55 113 45 115 ? ? 553 409 ? 482
1966 35 141 46 137 26 ? 561 393 ? 456
1967 76 148 51 139 87 ? 572 510 ? 582
1968 55 153 56 149 91 ? 591 514 ? 567
1969 62 184 58 170 105 ? 593 590 ? 649
1970 96 207 69 203 112 ? 609 700 ? 749
1971 131 208 93 249 127 ? 622 824 ? 864
1972 141 200 97 259 155 ? 637 869 ? 889
1973 162 242 ? ? 167 ? 652 1000 ? 1000
N. Valério – P. Tjipilica Portuguese Colonial Empire
39
Chart 1
Angola
0
0,5
1
1,5
2
2,5
3
3,5
years
N. Valério – P. Tjipilica Portuguese Colonial Empire
40
Chart 2
Cape Verde
0
0,5
1
1,5
2
2,5
3
3,5
years
N. Valério – P. Tjipilica Portuguese Colonial Empire
41
Chart 3
Portuguese Guinea
0
0,5
1
1,5
2
2,5
3
3,5
years
N. Valério – P. Tjipilica Portuguese Colonial Empire
42
Chart 4
Portuguese India
0
0,5
1
1,5
2
2,5
3
3,5
years
N. Valério – P. Tjipilica Portuguese Colonial Empire
43
Chart 5
Macao
0
0,5
1
1,5
2
2,5
3
3,5
years
N. Valério – P. Tjipilica Portuguese Colonial Empire
44
Chart 6
Mozambique
0
0,5
1
1,5
2
2,5
3
3,5
years
N. Valério – P. Tjipilica Portuguese Colonial Empire
45
Chart 7
S‹o Tom and Pr’ncipe
0
0,5
1
1,5
2
2,5
3
3,5
years
N. Valério – P. Tjipilica Portuguese Colonial Empire
46
Chart 8
Portuguese Timor
0
0,5
1
1,5
2
2,5
3
3,5
years