Meaning of “terms of trade” in the English Dictionary

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"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.

(Definition of “terms of trade” from the Cambridge Business English Dictionary © Cambridge University Press)