Countertrade
A trade between two countries by which goods are exchanged for other goods rather than for hard currency. Investopedia Says:
Sometimes both parties are happy with the goods they receive; other times one country will liquidate the received asset, ultimately receiving cash in the deal. This is also referred to as "using barter to complete a trade."
The former Soviet Union would often countertrade, agreeing to trade, say, Soviet oil for another country's vehicles. Related Terms:
Barter
Hard Currency
Hard Money
Soft Currency
Soft Money |