word

Terms of Trade

TURMZ uv TRAYD

/tɜːrmz əv treɪd/

Listen

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Syllable breakdown

termsoftrade

Dictionary meaning

The ratio of a country's export prices to its import prices, typically expressed as an index; an improvement (rise) means a country can buy more imports for the same volume of exports, while deterioration (fall) indicates the opposite.

Examples

The commodity price boom of the 2000s dramatically improved the terms of trade for resource-exporting African countries.

Synonyms: TOT

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