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68-679: Its initial location was S. Julião da Barra Fort, in Oeiras . It moved the first time to a former hospital-convent in Luz in 1814 – during its first years it moved two more times before finally resettling in Luz in 1859. Initially intended to shelter the sons of military officers stationed abroad to fight the French armies and turn them into army officers, it endured through the French Invasions until

136-613: A country or countries. GDP is often used to measure the economic health of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund . The ratio of GDP to the total population of the region is the GDP per capita and can approximate a concept of a standard of living . Nominal GDP does not reflect differences in

204-460: A base year. The result would be that the GDP in 2000 equals $ 300 million × 1 ⁄ 2 = $ 150 million , in 1990 monetary terms. We would see that the country's GDP had realistically increased 50 percent over that period, not 200 percent, as it might appear from the raw GDP data. The GDP adjusted for changes in money value in this way is called the real GDP . The factor used to convert GDP from current to constant values in this way

272-630: A branch of the Instituto Nacional dos Recursos Biológicos , responsible for agrarian research , the Estação Agronómica Nacional (National Agronomy Station), which are all located within the municipality of Oeiras. The first Portuguese semiconductor company, Chipidea , founded in 1997, was established in Oeiras until being acquired by MIPS Technologies for $ 147 million in 2007. On May 8, 2009, Synopsys acquired it as

340-518: A country becomes increasingly in debt, and spends large amounts of income servicing this debt this will be reflected in a decreased GNI but not a decreased GDP. Similarly, if a country sells off its resources to entities outside their country this will also be reflected over time in decreased GNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries with increasing national debt and decreasing assets. Gross national income (GNI) equals GDP plus income receipts from

408-521: A country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNI; on the other hand, production by an enterprise located outside the country, but owned by one of its citizens, counts as part of its GNI but not its GDP. For example, the GNI of the US is the value of output produced by American-owned firms, regardless of where the firms are located. Similarly, if

476-650: A country's citizens at home and abroad rather than its "resident institutional units" (see OECD definition above). The switch from GNP to GDP in the United States occurred in 1991. The role that measurements of GDP played in World War II was crucial to the subsequent political acceptance of GDP values as indicators of national development and progress. A crucial role was played here by the U.S. Department of Commerce under Milton Gilbert where ideas from Kuznets were embedded into institutions . The history of

544-406: A country's production has increased (or decreased, if the growth rate is negative) compared to the previous year, typically expressed as percentage change . The economic growth can be expressed as real GDP growth rate or real GDP per capita growth rate . GDP can be adjusted for population growth, also called Per-capita GDP or GDP per person . This measures the average production of a person in

612-474: A history of earlier settlement, it was during the reign of Joseph I that economic and social development, conditioned by the influence of the King's Minister, who promoted innovation and supported local economic activities, began to flourish. In 1770, the first agricultural and industrial fair was established in Oeiras, representing a unique national event that also contributed to the creation of fishing shelters and

680-470: A new customs house and factory, among other projects. One of the principal developments was the construction of the estate of the Marquess of Pombal, which today exists in its original form, with garden, palace and agricultural dependencies, such as the wine cellar, barn and other buildings, today housing the national institutions responsible for bio-science. In 1894, the municipality was abolished, but it

748-459: A privileged location for the Portuguese elite. By the beginning of the 20th century, many of the beaches in Oeiras were already occupied by the higher social classes, who travelled to the municipality for medical reasons (believing the air and beach-waters were therapeutic). The construction of National Roadway 6 (EN6) would later link Lisboa to Cascais, permitting new travellers to experience

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816-425: A reclaimed arms factory used for leisure and cultural purposes. Leisure facilities include the sports complex of Jamor, Oeiras' promenade (linking Algés and Oeiras e São Julião da Barra ) and the yacht harbour, in addition to other local parks and green spaces. The modern Parque dos Poetas ('Poets' Park'), a green space with statues of Portuguese poets and writers, is also one of the ex-libris of Oeiras. Many of

884-458: A reward by King Joseph I to his minister for his efforts in rebuilding Lisbon 's historical downtown ( Portuguese : Baixa ) after the 1755 Lisbon earthquake . A royal charter, dated 7 June 1759, gave jurisdiction over the lands within Oeiras to the King's loyal minister, who became the first Count of Oeiras . A month later, the small village was elevated to the status of town, and then gained municipal status on 13 June 1759. Although Oeiras had

952-467: Is US$ 5,040,107.75 (in a million). Predictably, as a developed country, Japan has a higher GNI (by 182,779.46, in millions of USD), which is indicative that the production level in the country is higher than that of national production. On the other hand, the case with Armenia is the opposite, with GDP being lower than GNI by US$ 196.12 (in million). This demonstrates that countries receive investments and foreign aid from abroad. The Total income divided by

1020-555: Is a town and municipality in the western part of Lisbon metropolitan area , located within the Portuguese Riviera , in continental Portugal . The municipality is part of the urban agglomeration of Lisbon and the town of Oeiras is about 16 km from Lisbon downtown . The population in 2011 was 172,120 living in an area of 45.88 km , making the municipality the fifth-most densely populated in Portugal. Oeiras

1088-425: Is also sometimes expressed as: The third way to estimate GDP is to calculate the sum of the final uses of goods and services (all uses except intermediate consumption) measured in purchasers' prices. Market goods that are produced are purchased by someone. In the case where a good is produced and unsold, the standard accounting convention is that the producer has bought the good from themselves. Therefore, measuring

1156-447: Is an important economic hub, being one of the most highly developed municipalities of Portugal and Europe. It has the highest GDP per capita in the country, being also the second highest-ranking municipality (immediately after Lisbon) in terms of purchasing power as well as the second highest-ranking in the country as far as tax collection is concerned. These economic indicators also reflect the education level of its inhabitants, as Oeiras

1224-838: Is calculated this way it is sometimes called gross domestic income (GDI), or GDP (I). GDI should provide the same amount as the expenditure method described later. By definition, GDI is equal to GDP. In practice, however, measurement errors will make the two figures slightly off when reported by national statistical agencies. This method measures GDP by adding incomes that firms pay households for factors of production they hire – wages for labour, interest for capital, rent for land and profits for entrepreneurship. The US "National Income and Product Accounts" divide incomes into five categories: These five income components sum to net domestic income at factor cost. Two adjustments must be made to get GDP: Total income can be subdivided according to various schemes, leading to various formulae for GDP measured by

1292-474: Is called the GDP deflator . Unlike consumer price index , which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment goods and government services, as well as household consumption goods. Real GDP can be used to calculate the GDP growth rate, which indicates how much

1360-599: Is celebrated on 3 March with a parade descending "Avenida da Liberdade", Lisbon's main avenue. Former students can be seen shouting their war cry "Zacatraz" – these can also be recognised by the use of the informal symbol, the "Barretina", on their lapels. The Portuguese Colégio Militar gave birth to a net of twelve military schools in Brazil ( Porto Alegre , Santa Maria , Curitiba , Rio de Janeiro , Belo Horizonte , Juíz de Fora , Salvador , Recife , Fortaleza , Manaus , Brasília and Campo Grande ) built in cooperation with

1428-423: Is contributed at each stage of production. This approach mirrors the OECD (Organisation for Economic Co-operation and Development) definition given above. Gross value added = gross value of output – value of intermediate consumption. Value of output = value of the total sales of goods and services plus the value of changes in the inventory. The sum of the gross value added in the various economic activities

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1496-404: Is known as "GDP at factor cost". GDP at factor cost plus indirect taxes less subsidies on products = "GDP at producer price". For measuring the output of domestic product, economic activities (i.e. industries) are classified into various sectors. After classifying economic activities, the output of each sector is calculated by any of the following two methods: The value of output of all sectors

1564-824: Is occupied by several facilities, which include the headquarters of SIC and TVI (two major Portuguese television networks), as well as main operational offices, research units, subsidiaries and branches of many large multinational companies, including Google , Nestlé , McDonald's , BP , General Electric , Cisco , Synopsys , P&G, Hewlett-Packard , Dell , Epson , Samsung , LG , Unit4 , Philips , Intel , Colgate-Palmolive , Johnson & Johnson , L'Oréal , Oracle , Atlas Copco , ABB , Daikin , Nike , Nissan , PepsiCo , Pfizer , Grundfos , Merck & Co , NetJets Europe , Synopsys , Miele , Unisys , BMW , Toshiba , Canon , GSK , Volvo Cars , and Stellantis . The headquarters of Omni Aviation and its Portuguese subsidiary airline White Airways are also located in

1632-551: Is often used as a metric for international comparisons as well as a broad measure of economic progress . It is often considered to be the world's most powerful statistical indicator of national development and progress. However, critics of the growth imperative often argue that GDP measures were never intended to measure progress, and leave out key other externalities , such as resource extraction , environmental impact and unpaid domestic work . Alternative economic indicators such as doughnut economics use other measures, such as

1700-587: Is that GDP defines its scope according to location, while GNI defines its scope according to ownership. In a global context, world GDP and world GNI are, therefore, equivalent terms. GDP is a product produced within a country's borders; GNI is product produced by enterprises owned by a country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNI non-identical. Production within

1768-587: Is the municipality with the highest concentration of population by tertiary education attainment in the country, their entrepreneurial prowess and the economically liberal mindset of Oeiras' society in general. It also has the lowest unemployment rate in the Lisbon area. The mild climate, access to water, quality of its soils and geographically advantageous location at the mouth of the Tagus River attracted early settlement to this region. The rugged hilltops of

1836-453: Is then added to get the gross value of output at factor cost. Subtracting each sector's intermediate consumption from gross output value gives the GVA (=GDP) at factor cost. Adding indirect tax minus subsidies to GVA (GDP) at factor cost gives the "GVA (GDP) at producer prices". The second way of estimating GDP is to use "the sum of primary incomes distributed by resident producer units". If GDP

1904-617: The Human Development Index or Better Life Index , as better approaches to measuring the effect of the economy on human development and well being . William Petty came up with a concept of GDP, to calculate the tax burden , and argue landlords were unfairly taxed during warfare between the Dutch and the English between 1652 and 1674. Charles Davenant developed the method further in 1695. The modern concept of GDP

1972-563: The Melhor Concelho para Trabalhar ('Best Municipality to Work'), Município de excelência ('Municipal Excellence' Award), European Enterprise Award and the ECOXXI Award. The municipality is located along the northern margin and mouth of the Tagus River , across from the municipality of Almada , surrounded by the municipalities of Lisbon (east), Sintra (north), Amadora (northeast) and Cascais (west). Administratively,

2040-410: The cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market. Total GDP can also be broken down into the contribution of each industry or sector of the economy. GDP

2108-576: The 19th century and was replaced by new industry, supported by the Lisbon-Cascais railway link, first inaugurated in 1889. Large factories began to locate in the municipality, among them the Fábrica do Papel , the Fundição de Oeiras , a Lusalite and Fermentos Holandeses . In the late 19th and early 20th centuries, the growth of leisure activities along the coast transformed Oeiras, which became

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2176-677: The Analog Business Group from MIPS Technologies for $ 22 million in cash. Oeiras offers a range of points of interest, ranging from monuments of unique and historical value, such as the Palace of Marquês de Pombal and Palace of the Royal Estate in Caxias (that dates from the 18th century and surrounded by luxurious gardens) to sites with industrial history, like the Fábrica da Pólvora de Barcarena ('Barcarena Gunpowder Factory'),

2244-673: The Gunpowder Factory ( Portuguese : Fábrica da Pólvora ) in Barcarena was therefore important in the expansion of the Portuguese dominions of the Orient , in addition to the aggregate extraction and calcium oxide furnaces in Paço de Arcos . These industries were supported and guarded by the construction of several fortifications along a maritime defensive line that ringed the southern coast to Lisbon and that controlled navigation in

2312-630: The Portuguese experience of a centenary school with high levels of success. This is a list of alumni with their own articles: The dress uniform of the Colégio Militar is in the distinctive maroon/brown colour worn by various regiments of the Portuguese Army since the end of the 18th century. Examples are shown below. The service and field uniforms worn by cadets are of the universal army pattern. Oeiras Municipality, Portugal Oeiras ( locally [ɔˈɐjɾɐʃ] )

2380-559: The Roman occupation of the Iberian peninsula are evident in many places throughout the municipality, including mosaics, specifically along the Rua das Alcássimas , and a Roman bridge. The later Arab conquest left behind several toponymic markers, including Arab/Moorish place names such as Alcássimas, Algés, Alpendroado and Quinta da Moura. The settlement of Oeiras dates back to 1208, when the area

2448-677: The Tagus estuary from the 16th to 18th centuries. This perimeter included the Fort of São Lourenço da Cabeça Seca (also known as the Lighthouse or Tower of Bugio), rising from a tiny islet in the middle of the Tagus River , as well as the Fort of São Julião da Barra , both examples of Renaissance military architecture. The municipality was founded in 1759 by the Marquis of Pombal on an area granted as

2516-427: The accounting year. ) So for example if a car manufacturer buys auto parts , assembles the car and sells it, only the final car sold is counted towards the GDP. Meanwhile, if a person buys replacement auto parts to install them on their car, those are counted towards the GDP. According to the U.S. Bureau of Economic Analysis, which is responsible for calculating the national accounts in the United States, "In general,

2584-418: The area, resulting in an influx of new residents that expanded the urban centres, giving rise to beach "chalets" and summer cottages. Simultaneously, the concentration of economic activities in Lisbon and surrounding urban municipalities meant that Oeiras had direct access to the capital. After 1940–50, the municipality began to function as a suburb and bedroom community, attracting more residential growth along

2652-563: The area. The municipality is also a business incubator due to the purposeful creation of many science, technology, research and business parks and centers, including: Several not-for-profit private and governmental institutions are also headquartered within the vicinity of Oeiras town. These include the principal naval service command of the North Atlantic Treaty Organization's (NATO) Allied Command Operations (ACO) ; IGC - Instituto Gulbenkian de Ciência , and

2720-514: The coast. This culminated in the 1970s with the appearance of illegal urban settlements, squatters and barrios. Until the 1980s, the municipality was dependent on the much larger urban centre for development. By the end of the 1980s, however, Oeiras began to constitute its own economic pole in the Lisbon metropolitan area , concentrating its development on tertiary activities linked to science, investigation, information technology and communications. At

2788-406: The cohort between 25 and 64 years of age (approximately 92,978 inhabitants). Rounding out these numbers, there are 24,153 seniors over the age of 65 and 22,685 residents less than 14 years of age. Oeiras has the highest concentration of bachelor's and PhD degrees in the country, as well as the highest percentage of graduates in the country: 26%. The industrialized and heavily commercial municipality

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2856-540: The concept of GDP should be distinguished from the history of changes in many ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the public sector , by financial industries, and by intangible asset creation is more complex. These activities are increasingly important in developed economies, and the international conventions governing their estimation and their inclusion or exclusion in GDP regularly change in an attempt to keep up with industrial advances. In

2924-401: The country. GDP per capita is often used as an indicator of living standards. The major advantage of GDP per capita as an indicator of the standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP every quarter, allowing trends to be seen quickly. It is measured widely in that some measure of GDP

2992-763: The development of the Portuguese society since the mid-19th century, such as five presidents of the Portuguese Republic (Field Marshals Gomes da Costa , Óscar Carmona, Craveiro Lopes , António de Spínola and Costa Gomes), prominent military men such as Morais Sarmento and Óscar Monteiro Torres, writers such as Manuel Pinheiro Chagas and Júlio Dantas, explorers like Serpa Pinto and Henrique Carvalho, artists, musicians and actors such as Tomás Alcaide, Raúl de Carvalho, Artur Semedo, Raúl Ferrão and Luís Esparteiro, politicians such as António Sérgio, Humberto Delgado and Tito Morais and many others. About 15,000 students have graduated from Colégio Militar. Its anniversary

3060-455: The elder students are ranked and put in command of the younger, perpetuating many rich and ancient traditions that keep a tight bond in the student corps (that often lasts throughout their lives). Teaching is led by a mixed staff of military and civilian teachers. There is a high sports component in the curriculum which includes, among others, fencing, horse riding, competition gymnastics, and shooting. Many of its former students have influenced

3128-431: The end of the 20th century, the municipality became known for its high standard of living , leaving behind its image as a suburb of Lisbon and assuming an important position as a centre associated with new technologies (with the establishment of various technology parks, such as Taguspark and LagoasPark ) and service industries. The elevated standard of living and work allowed the region to obtain several awards, including

3196-656: The former town centres have been recovered, displaying monuments and tourist-oriented venues for leisure, cultural, gastronomic and social events (for example the town of Paço de Arcos ). The final matches of the Portuguese men's and women's national football cups traditionally take place in the Estádio Nacional in the Jamor complex. It is also the location of the training centre for the Portugal national team . The Portugal Open (previously known as Estoril Open)

3264-553: The income approach. A common one is: The sum of COE , GOS and GMI is called total factor income; it is the income of all of the factors of production in society. It measures the value of GDP at factor (basic) prices. The difference between basic prices and final prices (those used in the expenditure calculation) is the total taxes and subsidies that the government has levied or paid on that production. So adding taxes less subsidies on production and imports converts GDP(I) at factor cost to GDP(I) at final prices. Total factor income

3332-443: The information required (especially information on expenditure and production by governments). The raw GDP figure as given by the equations above is called the nominal, historical, or current GDP. When one compares GDP figures from one year to another, it is desirable to compensate for changes in the value of money—for the effects of inflation or deflation. To make it more meaningful for year-to-year comparisons, it may be multiplied by

3400-533: The interior conditioned cultivation and allowed the settlement of several small agricultural castros within the region's limits, such as Castro of Leceia (which was classified in 1963 as a property of public interest). This archaeological site is a witness to the early settlements and defensive structures that developed during the Chalcolithic period, although Paleolithic camps such as Gruta da Ponte da Laje are indicative of earlier settlements. Remnants of

3468-683: The municipality is divided into five civil parishes ( freguesias ): Along the 10 km coastline, where the Tagus River meets the ocean, several natural coves were at the origin of its beaches: Two major green areas spread over Oeiras municipality: the Estação Agronómica Nacional and the Jamor sports complex . Oeiras has a Mediterranean climate with warm to hot, dry summers and mild, wet winters with less precipitation and slightly smoother variations in temperature than

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3536-424: The nearby city of Lisbon . Oeiras municipality had a population of 172,120 at the 2011 census, remaining the nation's 11th most populous municipality and the 5th greatest in terms of population density. The major expansion in the municipality's demographics, like those of the other municipalities that circle Lisbon, occurred in the second half of the 20th century. Realizing this growth, and understanding that there

3604-480: The parish centre. Oeiras formerly contained the SATUOeiras people mover that connected Oeiras Parque Shopping Center with Paço de Arcos . The line operated between 2004 and 2015. Oeiras is twinned with: Gross domestic product Gross domestic product ( GDP ) is a monetary measure of the market value of all the final goods and services produced and rendered in a specific time period by

3672-463: The population is the Per capita income . The international standard for measuring GDP is contained in the book System of National Accounts (2008), which was prepared by representatives of the International Monetary Fund , European Union , Organisation for Economic Co-operation and Development , United Nations and World Bank . The publication is normally referred to as SNA2008 to distinguish it from

3740-509: The present. It is the oldest educational institution of Portugal after the Universidade de Coimbra and the most decorated military institution in Portugal. Colégio Militar has been through many regime changes, revolutions, and wars, providing a military education for thousands of youngsters who join at the age of ten and finish just before entering university or military academies. It is quite distinctive in its educational method, in which

3808-430: The previous edition published in 1993 (SNA93) or 1968 (called SNA68) SNA2008 provides a set of rules and procedures for the measurement of national accounts. The standards are designed to be flexible, to allow for differences in local statistical needs and conditions. Within each country GDP is normally measured by a national government statistical agency, as private sector organizations normally do not have access to

3876-512: The products must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things. The income approach works on the principle that the incomes of the productive factors ("producers", colloquially) must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes. Also known as the Value Added Approach, it calculates how much value

3944-445: The ratio between the value of money in the year the GDP was measured and the value of money in a base year. For example, suppose a country's GDP in 1990 was $ 100 million and its GDP in 2000 was $ 300 million . Suppose also that inflation had halved the value of its currency over that period. To meaningfully compare its GDP in 2000 to its GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as

4012-587: The rest of the world minus income payments to the rest of the world. In 1991, the United States switched from using GNP to using GDP as its primary measure of production. The relationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and Product Accounts . Another example that amplifies the difference between GDP and GNI is the comparison of developed and developing country indicators. The GDP of Japan for 2020

4080-408: The same result. They are the production (or output or value added) approach, the income approach, and the speculated expenditure approach. It is representative of the total output and income within an economy. The most direct of the three is the production approach, which sums up the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of

4148-401: The source data for the expenditures components are considered more reliable than those for the income components [see income method, above]." Encyclopedia Britannica records an alternate way of measuring exports minus imports: notating it as the single variable NX. GDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). The difference

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4216-536: The total expenditure used to buy things is a way of measuring production. This is known as the expenditure method of calculating GDP. GDP (Y) is the sum of consumption (C) , investment (I) , government expenditures (G) and net exports (X − M) . Here is a description of each GDP component: C , I , and G are expenditures on final goods and services; expenditures on intermediate goods and services do not count. (Intermediate goods and services are those used by businesses to produce other goods and services within

4284-473: The words of one academic economist, "The actual number for GDP is, therefore, the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework." China officially adopted GDP in 1993 as its indicator of economic performance. Previously, China had relied on a Marxist-inspired national accounting system. GDP can be determined in three ways, all of which should, theoretically, give

4352-530: Was a need to control urban sprawl , in 1948 the Plano de Urbanização da Costa do Sol ('Sun Coast Urbanization Plan') was adopted to manage this activities in the northern margin of the Tagus . This remained active until 1994, when the first Plano Director Municipal ('Municipal Plan') was adopted. Demographically, the population is divided into 52.6% women to 47.4% men, with the majority of its resident population in

4420-620: Was an ATP and WTA tennis tournament held in the sports complex of Jamor, from 1990 until 2014. The A5 motorway passes through Oeiras, providing a highway connection to Cascais and Lisbon. The municipality is served by the Cascais Line , a suburban railway line the runs along the Estoril Coast west from Lisbon. There are six railway stations on the Cascais Line in the municipality, including Oeiras Station that serves

4488-515: Was colonized by Christians arrived from northern lands of the Kingdom of Portugal who were moving south into warmer agricultural lands during the process of Reconquista (reconquest of ancient Visigothic Kingdom ’s territory occupied by Muslim invaders since the 8th century). At the beginning of the Age of Discoveries , Oeiras became the industrial and commercial warehouse of Lisbon. The development of

4556-493: Was first developed by Simon Kuznets for a 1934 U.S. Congress report, where he warned against its use as a measure of welfare (see below under limitations and criticisms ). After the Bretton Woods Conference in 1944, GDP became the main tool for measuring a country's economy. At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by

4624-439: Was reestablished four years later on 13 January 1898. It was reconstituted without Carcavelos , which was annexed to Cascais , while gaining the civil parish of Benfica . In the late 17th and early 18th centuries, several estates and palaces began to be constructed in order to explore agricultural production, principally cereals and vineyards, which supported the growing markets of Lisbon. However, this activity began to decline by

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