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Meaning of “terms of trade” in the English Dictionary

"terms of trade" in Business English

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terms of tradenoun [plural]

uk   us  
ECONOMICS the value of a country's exports compared with the value of its imports: The terms of trade are turning in our favour. As export prices fell 2% compared with a 2.5% drop in import prices the terms of trade improved.
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(Definition of terms of trade from the Cambridge Business English Dictionary © Cambridge University Press)
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