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In 1297, King Dinis of Portugal took personal interest in the development of exports and organized the export of surplus production to European countries. On May 10, 1293, he instituted a maritime insurance fund for Portuguese traders living in the County of Flanders, which were to pay certain sums according to tonnage, accrued to them when necessary.
[1] [2] During this period, Portugal was the first European power to begin building a colonial empire as during the Age of Exploration Portuguese sailors and explorers discovered an eastern route to India (that rounded the Cape of Good Hope) as well as several Atlantic archipelagos (like the Azores, Madeira, and Cape Verde) and colonized the ...
The history of Portugal can be traced from circa 400,000 years ago, when the region of present-day Portugal was inhabited by Homo heidelbergensis.. The Roman conquest of the Iberian Peninsula, which lasted almost two centuries, led to the establishment of the provinces of Lusitania in the south and Gallaecia in the north of what is now Portugal.
Portugal was the leading country in the European exploration of the world in the 15th century. The Treaty of Tordesillas in 1494 divided the Earth outside Europe into Castilian and Portuguese global territorial hemispheres for exclusive conquest and colonization .
It was not until Prince Henry the Navigator of Portugal was born in 1394 and gained influence at court through the 15th century that exploration and the development of nautical sciences became priorities under the Iberian governments. [4]
The economic history of Portugal covers the development of the economy throughout the course of Portuguese history. It has its roots prior to nationality, when Roman occupation developed a thriving economy in Hispania, in the provinces of Lusitania and Gallaecia, as producers and exporters to the Roman Empire.
The ship that truly launched the first phase of the Portuguese discoveries along the African coast was the caravel, a development based on existing fishing boats. They were agile and easier to navigate, with a tonnage of 50 to 160 tons and 1 to 3 masts, with lateen triangular sails allowing luffing. The caravel's limited capacity for cargo and ...
Together with Portugal, they are now members of the Community of Portuguese Language Countries, which when combined total 10,742,000 km 2, or 7.2% of the Earth's landmass (148 939 063 km 2). [222] As at 2023, there are 32 associate observers of the CPLP, reflecting the global reach and influence of Portugal's former empire.