Exports: $25 billion (f.o.b., 1998)
Exports—commodities: clothing and footwear, machinery, chemicals,
cork and paper products, hides
Exports—partners: EU 81% (Germany 20%, Spain 15%, France 14%, UK
12% Netherlands 5%, Benelux 5%, Italy 4%), US 5% (1997)
Imports: $34.9 billion (f.o.b., 1998)
Imports—commodities: machinery and transport equipment,
chemicals, petroleum, textiles, agricultural products
Imports—partners: EU 76% (Spain 24%, Germany 15%, France 11%,
Italy 8%, UK 7%, Netherlands 5%), US 3%, Japan 2% (1997)
Debt—external: $13.1 billion (1997 est.)
Economic aid—donor: ODA, $271 million (1995)
Currency: 1 Portuguese escudo (Esc) = 100 centavos
Exchange rates: Portuguese escudos (Esc) per US$1—172.78 (January
1999), 180.10 (1998), 175.31 (1997), 154.24 (1996), 151.11 (1995),
165.99 (1994)
note: on 1 January 1999, the European Union introduced a common
currency that is now being used by financial institutions in some
member countries at the rate of 0.8597 euros per US$ and a fixed
rate of 200.482 escudos per euro; the euro will replace the local
currency in consenting countries for all transactions in 2002