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Imports from the US in 1947 rose more than 74 percent by value over 1946, while imports
from the UK increased 70.5 percent.
Continental Portugal: Percentage Distribution of Imports by Country
(Escudo Value basis)
Source
1938
1944
1945
1946
1947
US
11.6
12.1
19.2
25.0
31.6
UK
17.0
11.0
10.9
13.7
17.5
Switzerland
2.0
5.7
7.3
5.1
4.0
Sweden
1.6
5.5
4.1
4.5
3.2
Curacao
6.3
5.7
4.0
2.5
Benelux
6.7
.2
.1
3.8
6.0
Germany
16.8
8.0
.3
.5
.5
France
6.1
.5
.9
2.9
4.9
Portuguese Colonies
10.1
18.9
18.6
15.2
7.9
Spain
.6
4.5
3.9
2.7
1.5
Others
27.5
27.3
29.0
22.6
20.4
100.0
100.0
100.0
100.0
100.0
Continental Portugal: Imports by Principal Commodities 1
1938
1946
1947
1948-49 2
1,000
1,000
1,000
1,000
1,000
1,000
1,000
1,000
Machinery, vehicles,
MT
dollars
MT
dollars
MT
dollars
MT
dollars
and ships
22
14,842
91
51,977
75
84,508
n.a.
76,713
Coal
1,148
7,688
586
12,892
914
19,194
1,266
16,420
Iron and steel
109
6,771
154
17,451
163
25,358
195
29,014
Grains
174
6,643
287
23,218
295
28,755
331
26,120
Cotton (raw)
28
6,161
40
17,410
26
12,080
29
15,545
Codfish
43
5,007
17
6,974
28
11,770
n.a.
n.a.
P.O.L.
196
4,583
359
17,127
717
18,897
675
19,599
Sugar
70
3,580
76
5,022
101
12,361
80
n.a.
Oilseeds
61
2,802
65
5,208
61
5,671
n.a.
n.a.
Nitrogenous fertilizers
71
2,439
62
4,159
49
3,449
20 3
5,000
Rock phosphates
127
707
251
4,608
170
2,826
200
2,150
All others
40,627
108,314
153,611
n.a.
Total
101,830
274,360
378,480
325,748
1 Includes imports from Portuguese colonies.
2 Portuguese program, as revised by OEEC.
3 Tons of nitrogen.
Source: Portugal-Instituto Nacional de Estatistica, Comercio Externo and Portuguese 1948/49 Annual
Program. Coal figures for 1946 and 1947 obtained from ECE Coal Committee.
There were unprecedented import surpluses
million by December 1948. Gold holdings
in 1946, 1947 and 1948, resulting in a decline
dropped from $376 million in July 1947 to
in total official gold and foreign exchange
about $165 million as of June 1949, of which
holdings from the equivalent of about $750
$140 million must be held as a legal reserve
million at the end of 1946 to approximately
against the money supply. In order to con-
$525 million as of December 1948. Official
serve the dwindling supply of gold and foreign
and private dollar holdings totaled only $39
exchange, the government imposed import
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"ocrText": "SECRET\n19\nImports from the US in 1947 rose more than 74 percent by value over 1946, while imports\nfrom the UK increased 70.5 percent.\nContinental Portugal: Percentage Distribution of Imports by Country\n(Escudo Value basis)\nSource\n1938\n1944\n1945\n1946\n1947\nUS\n11.6\n12.1\n19.2\n25.0\n31.6\nUK\n17.0\n11.0\n10.9\n13.7\n17.5\nSwitzerland\n2.0\n5.7\n7.3\n5.1\n4.0\nSweden\n1.6\n5.5\n4.1\n4.5\n3.2\nCuracao\n6.3\n5.7\n4.0\n2.5\nBenelux\n6.7\n.2\n.1\n3.8\n6.0\nGermany\n16.8\n8.0\n.3\n.5\n.5\nFrance\n6.1\n.5\n.9\n2.9\n4.9\nPortuguese Colonies\n10.1\n18.9\n18.6\n15.2\n7.9\nSpain\n.6\n4.5\n3.9\n2.7\n1.5\nOthers\n27.5\n27.3\n29.0\n22.6\n20.4\n100.0\n100.0\n100.0\n100.0\n100.0\nContinental Portugal: Imports by Principal Commodities 1\n1938\n1946\n1947\n1948-49 2\n1,000\n1,000\n1,000\n1,000\n1,000\n1,000\n1,000\n1,000\nMachinery, vehicles,\nMT\ndollars\nMT\ndollars\nMT\ndollars\nMT\ndollars\nand ships\n22\n14,842\n91\n51,977\n75\n84,508\nn.a.\n76,713\nCoal\n1,148\n7,688\n586\n12,892\n914\n19,194\n1,266\n16,420\nIron and steel\n109\n6,771\n154\n17,451\n163\n25,358\n195\n29,014\nGrains\n174\n6,643\n287\n23,218\n295\n28,755\n331\n26,120\nCotton (raw)\n28\n6,161\n40\n17,410\n26\n12,080\n29\n15,545\nCodfish\n43\n5,007\n17\n6,974\n28\n11,770\nn.a.\nn.a.\nP.O.L.\n196\n4,583\n359\n17,127\n717\n18,897\n675\n19,599\nSugar\n70\n3,580\n76\n5,022\n101\n12,361\n80\nn.a.\nOilseeds\n61\n2,802\n65\n5,208\n61\n5,671\nn.a.\nn.a.\nNitrogenous fertilizers\n71\n2,439\n62\n4,159\n49\n3,449\n20 3\n5,000\nRock phosphates\n127\n707\n251\n4,608\n170\n2,826\n200\n2,150\nAll others\n40,627\n108,314\n153,611\nn.a.\nTotal\n101,830\n274,360\n378,480\n325,748\n1 Includes imports from Portuguese colonies.\n2 Portuguese program, as revised by OEEC.\n3 Tons of nitrogen.\nSource: Portugal-Instituto Nacional de Estatistica, Comercio Externo and Portuguese 1948/49 Annual\nProgram. Coal figures for 1946 and 1947 obtained from ECE Coal Committee.\nThere were unprecedented import surpluses\nmillion by December 1948. Gold holdings\nin 1946, 1947 and 1948, resulting in a decline\ndropped from $376 million in July 1947 to\nin total official gold and foreign exchange\nabout $165 million as of June 1949, of which\nholdings from the equivalent of about $750\n$140 million must be held as a legal reserve\nmillion at the end of 1946 to approximately\nagainst the money supply. In order to con-\n$525 million as of December 1948. Official\nserve the dwindling supply of gold and foreign\nand private dollar holdings totaled only $39\nexchange, the government imposed import\nSECRET"
}