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English definition of “terms of trade”

terms of trade

noun [plural]
 
 
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. →  Compare trade terms
(Definition of terms of trade from the Cambridge Business English Dictionary © Cambridge University Press)
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