terms of trade
- plural noun the ratio of a country’s import prices to export prices
- plural noun the difference between a country’s exports and imports
- acronymTOT (written as Terms of trade)
- terms of trade
- (written as Terms of Trade)The ratio of an index of a jurisdiction's export price index to its import price index. The terms of trade are said to 'improve' if weighted export prices rise faster or fall more slowly than weighted import prices.
- noun the rate of exchange for goods or services being imported and exported between two countries