One of the mysteries of the English language finally explained.
The ratio of an index of a country's export prices to an index of its import prices.
- ‘A ratio comparing export prices to import prices, the terms of trade is related to current accounts and the balance of payments.’
- ‘The economic ratio, or terms of trade, becomes a diplomatic move unrelated to the laws of supply and demand.’
- ‘But rising prices of agricultural inputs partially offset the effects of improved terms of trade on farmer incomes.’
- ‘To be sure, there are substantial benefits to be derived in terms of trade, price transparency and economic efficiency from the embrace of a common currency union.’
- ‘An upside of the export decrease is an increase in the terms of trade.’
- ‘The sources of the liquidity squeeze include poorer terms of trade with customers and suppliers and a less accommodating approach by banks.’
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