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Terms of trade are defined as the ratio between the index of export prices and the index of import prices. If the export prices increase more than the import prices, a country has a positive terms of trade, as for the same amount of exports, it can purchase more imports.
Terms of Trade (TOT) in economics refer to the ratio between the country’s export and import prices. It is basically a measure of how much stuff one country can get in exchange for what it sells. The American economist, Frank William Taussig, coined the term in his book ‘International Trade.’
22 Μαρ 2024 · Terms of Trade refers to the ratio of export prices to import prices and measures the relative trading position of a country. In contrast, the Balance of Trade measures the difference in value between a country’s exports and imports over a certain period.
26 Οκτ 2023 · It represents the relative price of a country’s exports in terms of its imports and is calculated by dividing the price index of a country’s exports by the price index of its imports. TOT is influenced by factors such as changes in demand, supply, and exchange rates.
Select a data element within the glossary to see its usage within trade documents. Understanding data sharing within the supply chain is the first step towards validating and securing key data with the aim of visibility and traceability.
27 Ιουν 2024 · Terms of trade (TOT) is a key economic metric of a country's health measured through what it imports and exports. TOT is expressed as a ratio that reflects the number of units of exports that...
Terms of trade are defined as the ratio between the index of export prices and the index of import prices. If the export prices increase more than the import prices, a country has a positive terms of trade, as for the same amount of exports, it can purchase more imports.
