The relative price of a country's exports compared to its imports. See improve the terms of trade.* Outside of the economics of international trade, this expression often refers more broadly to the policies, facilities, and other arrangments that characterize the trade between one country or group of countries and another.

An index expressed as a ratio between the price of exports and the price of imports. When the index rises the terms of trade improve, and vice versa. Broadly speaking, the index measures the purchasing power of a country's exports in terms of the imports it buys (i.e. the quantity of imports which can be bought with the country's export revenues. Français: Termes de l'échange Español: Relación de intercambio

the ratio in prices between a country's exports and its imports

The amount of exports that must be exchanged for some amount of imports.

The relationship between the prices of exports and the prices of imports. The usual method of calculating the terms of trade is by dividing the implicit price deflator for exports by the implicit price deflator for imports.

The average price of exports divided by the average price of imports; the quantity of imports that can be purchased per unit of exports.

The ratio of prices (unit values) of a country's exports to the prices (unit values) of its imports. Some economists have discerned a deteriorating trend in this ratio for developing countries as a whole. Other economists maintain that whereas the terms of trade may have become less favourable for certain countries during certain periods — and even for all developing countries during some periods — the same terms of trade have improved for other developing countries in the same periods and perhaps for most developing countries during other periods.

The relationship between a country's export prices and its import prices. A fall in the index means that a country must export more to purchase the same amount of imports.

The value of a nation's exported goods relative to the value of the goods that are imported. A measure of the prices paid for imports relative to the prices received for imports.

The ratio of export prices over import prices.

The ratio of export prices to import prices. A high ratio benefits an economy, because then the country can pay for many imports by selling a small amount of exports. If terms of trade worsen, the country needs to sell more exports to buy the same amount of imports.

The volume of exports that can be traded for a given volume of imports.

the relationship between the average price of exports and the average price of imports. Terms of Trade always favour MEDCs at the expense of LEDCs. See Structure of Trade.

The ratio between the average price of a country's exports and the average price of that same country's imports, expressed as an index. The terms of trade show, in general terms, how much a country can buy abroad for each unit of exports it sells.

The relationship of a nation's export prices as compared to its import prices.

The relative prices of goods and services traded in international markets.

The ratio between a countryâ€(tm)s imports and export prices relative to a base year

The ratio of the index of export prices to the index of import prices. (Note the difference from "Trade Terms"

In international economics and international trade, terms of trade or TOT are the ratio of the price of an export commodity/-ies to the price of an import commodity/-ies. "Terms of trade" are sometimes used as a proxy for the relative social welfare of a country, but this heuristic is technically questionable and should be used with extreme caution. An improvement in a nation's terms of trade is good for that country in the sense that it has to pay less for the products it imports, that is, it has to give up less exports for the imports it receives.