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This article presents a benchmark for Portuguese agrarian output for the 1311–20 decade. This benchmark is built from the supply side using the value of church tithes combined with contemporary parish accounts. Two main findings emerge: first, per capita agrarian output was similar in the recently conquered South and the North, hinting that internal migration after the Reconquista led to the equalization of marginal product across the country; second, that Portuguese real per capita agrarian output was above subsistence and higher than that of contemporary England and Wales. This result,which is robust tot he assumptions used, confirms that by 1320 Portugal was a “frontier economy” with a high land/labor ratio and a high per capita output. This seems to reinforce the Malthusian theory that the amount of land per person was key in determining living standards. The article discusses the implication of these results for the inequality among nations.