16 



Most of the merchandise, however, such as cotton, coals, 

 iron, codfish, &c., is carried in foreign bottoms, and the bill paid 

 to foreign shipping and insurance companies is estimated at 

 very nearly 3,000,000. Excepting Angola, most of the trade 

 with the Portuguese colonies is carried in foreign bottom's at 

 present. 



Trade with Great Britain is approximately one-third of 

 the total foreign trade. England is the best market for port 

 and Madeira wines, absorbing 59 per cent, of the production. 

 She is also the best market for fresh and dried fruit, purchasing 

 75 per cent, of the figs, almonds, and carob of the Algarve; she 

 buys most of the cork and of the mineral ores of the country. 



Beeiprocally Portugal buys all the coal she requires in 

 England, all the tinplates, the copper, and the iron. It is through 

 the intermediary of England that Portugal buys cotton, wheat, 

 and codfish in America. The volume of trade with England may 

 be estimated at 1,000,000 to 2,000,000 tons per annum. 



Trade with the United States is declining on account of the 

 exchange. But the United States supplies tobacco, cotton, 

 gasoline, petroleum, staves, and sometimes wheat. Agricultural 

 machines and light motor-cars are also in great demand. In 

 return Portugal sells to the United States canned fish, figs and 

 almonds, carob, cork, and goat skins. 



The volume of trade with Brazil is estimated at 100,000 

 tons, and represents about 8 per cent, of the total value. There is 

 a Portuguese colony numbering some 2,500,000. The number of 

 Portuguese emigrants going to Brazil each year may be reckoned 

 at 35,000. This colony and the affinity of race and language 

 determine a commercial intercourse sui generis. 



Portuguese products enjoy a sentimental preference in Brazil. 

 Cheese, butter, fruit, vegetables, olive oil, canned fish, building 

 stones, tiles, light wines find in Brazil an excellent market. 



Brazil is selling sugar, cotton, coffee, timber, and rice, 

 but the growing competition of the Portuguese colonies is likely 

 to reduce the amount of Brazilian goods imported for consumption 

 in Portugal. 



Trade with Spain represents about 10 per cent, of the total. 

 Portugal buys rice, calico, carburet (7,000 tons), wool, and 

 animals, and sells animals, fish, salt, manures, and a little fruit. 

 The volume of trade is estimated at 300,000 tons. 



The trade with Germany was in 1913 about 15 per cent, of 

 the total, representing a volume of 248,901 tons. 



Germany was the outlet of all colonial produce; a good 

 nmrket for cork, skins, fruit, light wines, grapes, raisins, &c. 

 In return Portugal bought in Germany machines, manufactured 

 iron, chemicals, and manv other necessaries. 



