Studia i Prace WNEiZ US

Previously: Zeszyty Naukowe Uniwersytetu Szczecińskiego. Studia i Prace WNEiZ

ISSN: 2450-7733     eISSN: 2300-4096    OAI    DOI: 10.18276/sip.2017.49/2-04
CC BY-SA   Open Access 

Issue archive / nr 49/2 2017
Cenowe i dochodowe terms of trade jako mierniki korzyści z handlu zagranicznego we współczesnym handlu międzynarodowym (na przykładzie wybranych krajów Ameryki Łacińskiej)
(Commodity and income terms of trade as a measure of benefits in contemporary international trade (based on the example of Latin American Countries))

Authors: Jerzy Dudziński
Uniwersytet Szczeciński
Keywords: terms of trade international trade world prices developing countries
Year of publication:2017
Page range:12 (49-60)
Klasyfikacja JEL: E64 F10 F40
Cited-by (Crossref) ?:


The results of the study investigating terms of trade based on the example of selected Latin American countries presented in this paper indicate that in contemporary international trade, commodity terms of trade do not provide an appropriate reflection of the benefits and competitiveness of foreign trade of individual countries and world regions. It is income terms of trade, i.e. the export purchasing power, which offer a much more accurate measurement of benefits yielded by foreign trade and criterion of its profitability. The latter indicator – unlike commodity terms of trade – takes into account also the impact of another important factor, i.e. export volume. Commodity terms of trade provide a considerably accurate reflection of the benefits and competitiveness of foreign trade for primary commodities. The role of these commodities in contemporary international trade, however, has considerably decreased over the years. At the same time, the share of manufactured goods has been rising in the last decades also in the exports of developing countries (particularly China and the so-called new industrialised economies – and in the group of countries under study – Nicaragua).
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