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English
Created / Updated
29.04.2017 / 29.04.2017
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autarky

the (impossible) situation in which a country is completely self-sufficient and has no foreign trade

visible trade (BrE) or merchandise trade (AmE) 

  1. trade in goods

invisible imports and exports

trade in services (banking, insurance, tourism, and so on)

barter or counter-trade 

  1. direct exchanges of goods, without the use of money

balances of trade

  1. the difference between what a country receives and pays for its exports and imports of goods

balances of payments

  1. the difference between a country’s total earnings from exports and its total expenditure on imports

surplus

  1. a positive balance of trade or payments

deficit

  1. a negative balance of trade or payments

dumping

  1. selling goods abroad at (or below) cost price

protectionism

  1. imposing trade barriers in order to restrict imports

tariffs

  1. taxes charged on imports

quotas

  1. quantitative limits on the import of particular products or commodities

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