economic activity in the portuguese colonial empire: a ... · existence of the fourth portuguese...

N. Valério – P. Tjipilica Portuguese Colonial Empire

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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)

[[email protected]]

= 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.

mailto:[email protected]

mailto:[email protected]


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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.


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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:


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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


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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.


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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.


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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.


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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


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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:


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


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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.


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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.


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


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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.


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


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


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 — —


17

Angola

year


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 — — —


18

Angola

year


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


19

Angola

year


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


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 — — —


20

Cape

Verde

year


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 — — —


21

Cape

Verde

year


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


22

Cape

Verde

year


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


23

Portuguese Guinea

Port.

Guinea

year


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 ? ? ? ? ? — — —


24

Port.

Guinea

year


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 — — —


25

Port.

Guinea

year


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


26

Port.

Guinea

year


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


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 — — —


27

Port.

India

year


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


28

Port.

India

year


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


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 — — —


29

Macao

year


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


30

Macao

year


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


31

Macao

year


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


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 ? ? ? — — —


32

Mozam-

bique

year


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


33

Mozam-

bique

year


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


34

Mozam-

bique

year


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


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 — — —


35

STP

year


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 — —


36

STP

year


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


37

STP

year


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


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 — — —

…


38

Port.

Timor

year


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


39

Chart 1

Angola

0

0,5

1

1,5

2

2,5

3

3,5

years


40

Chart 2

Cape Verde

0

0,5

1

1,5

2

2,5

3

3,5

years


41

Chart 3

Portuguese Guinea

0

0,5

1

1,5

2

2,5

3

3,5

years


42

Chart 4

Portuguese India

0

0,5

1

1,5

2

2,5

3

3,5

years


43

Chart 5

Macao

0

0,5

1

1,5

2

2,5

3

3,5

years


44

Chart 6

Mozambique

0

0,5

1

1,5

2

2,5

3

3,5

years


45

Chart 7

S‹o Tom and Pr’ncipe

0

0,5

1

1,5

2

2,5

3

3,5

years


46

Chart 8

Portuguese Timor

0

0,5

1

1,5

2

2,5

3

3,5

years

economic activity in the portuguese colonial empire: a ... · existence of the fourth portuguese...

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