Trade

   Owing to the Anglo-Portuguese Alliance, England (Great Britain after 1707) was, until the 1920s, Portugal's main trading partner. The Methuen Treaty (1703) stipulated that Portuguese wines and English woolens would be exempt from custom duties. The imperial nationalist economic ideas of the Estado Novo directed Portuguese trade toward its Africa colonies of Angola, Mozambique, and Guinea- Bissau. The historical importance of the British export market to Portuguese trade necessitated Portugal becoming a charter member of the European Free Trade Area (EFTA) in 1959.
   When Britain joined the European Economic Community (EEC) in 1973, Portugal had to follow, with a trade agreement with the European Union (EU). Negotiations between Portugal and the EU produced an accord that stipulated mutual tariff reductions, until their disappearance in mid-1977 on industrial products, while EU member states were allowed to restrict some Portuguese textiles and paper and cork products. Tariffs were also reduced for Portuguese tinned tomatoes and fish, as well as for port wine. Since gaining full membership in the EU in 1986. Portugal's trade has shifted strongly toward continental EU member states. In the 1990s, EEC/EU member states purchased nearly 75 percent of Portugal's exports and supplied nearly 70 percent of its imports. Within the EEC/EU, Britain, Germany, France, and Spain are Portugal's a main trading partners. Portuguese trade with its former colonies fell sharply after the Revolution of 25 April 1974, as Portugal turned away from Africa and toward Europe.
   In 2007, Portugal's major commodity exports have been textiles, clothing, footwear, machinery, transportation equipment, paper and cork products, wine, tomato paste, chemicals, and plastic products. Portugal's comparative advantage lies in its low hourly costs for skilled labor, which are about 20 percent lower than other EU member states. Manufactured goods account for about 75 percent of merchandise imports; food and beverages about 10 percent; and raw materials (mainly petroleum) about 15 percent.

Historical dictionary of Portugal 3rd ed.. . 2014.

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  • Trade — Trade, n. [Formerly, a path, OE. tred a footmark. See {Tread}, n. & v.] 1. A track; a trail; a way; a path; also, passage; travel; resort. [Obs.] [1913 Webster] A postern with a blind wicket there was, A common trade to pass through Priam s house …   The Collaborative International Dictionary of English

  • trade — 1 n 1 a: the business or work in which one engages regularly b: an occupation requiring manual or mechanical skill c: the persons engaged in an occupation 2: the business of buying and selling or bartering commodities 3: an act or instance of… …   Law dictionary

  • trade — [trād] n. [ME, a track, course of action < MLowG, a track < OS trada, a trace, trail, akin to ME trede, TREAD] 1. Obs. a) a track; path b) a course; regular procedure 2. a) a means of earning one s living; occupation, work, or line of… …   English World dictionary

  • trade — n 1 Trade, craft, handicraft, art, profession are general terms which designate a pursuit followed as an occupation or means of livelihood and requiring technical knowledge and skill. Trade is applied chiefly to pursuits involving skilled manual… …   New Dictionary of Synonyms

  • trade-in — ˈtrade in noun [countable, uncountable] COMMERCE a way of buying a new car, computer etc in which you give the seller your old car etc as part of the payment; = part Bre: • A dealer may accept old equipment as a trade in on a new computer. • They …   Financial and business terms

  • trade — ► NOUN 1) the buying and selling of goods and services. 2) a commercial activity of a particular kind: the tourist trade. 3) a job requiring manual skills and special training. 4) (the trade) (treated as sing. or pl. ) the people engaged in a… …   English terms dictionary

  • trade-in — trade′ in n. 1) goods given in whole or, usu., part payment of a purchase: We used our old car as a trade in for the new one[/ex] 2) a business transaction involving a trade in 3) of or pertaining to the valuation of goods used in a trade in:… …   From formal English to slang

  • trade — (izg. trȇjd) m DEFINICIJA trg. trgovina, trgovanje SINTAGMA trade mark (izg. trade mȃrk) zaštitna ili trgovačka marka, žig, oznaka za robu jednog proizvođača; trade union (izg. trade jȕnion) radnički sindikat u Velikoj Britaniji, SAD u i drugim… …   Hrvatski jezični portal

  • trade-in — n AmE a used car, piece of equipment etc that you give to a seller of a new one that you are buying as part of the payment British Equivalent: part exchange ▪ Are you going to give your Ford as a trade in? trade in price/value ▪ The trade in… …   Dictionary of contemporary English

  • Trade — Trade, v. i. [imp. & p. p. {Traded}; p. pr. & vb. n. {Trading}.] 1. To barter, or to buy and sell; to be engaged in the exchange, purchase, or sale of goods, wares, merchandise, or anything else; to traffic; to bargain; to carry on commerce as a… …   The Collaborative International Dictionary of English

  • Trade — Trade, v. t. To sell or exchange in commerce; to barter. [1913 Webster] They traded the persons of men. Ezek. xxvii. 13. [1913 Webster] To dicker and to swop, to trade rifles and watches. Cooper. [1913 Webster] …   The Collaborative International Dictionary of English

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