The weighted average of a nation's export prices relative to its import prices. Bloomberg Financial Dictionary
* * *
terms of trade UK US 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.
Financial and business terms. 2012.