Terms of Trade by Country
Net barter terms of trade index (2015 = 100). Latest values for 207 economies.
Among 206 countries, Saudi Arabia has the highest terms of trade at 168.9 and St Vincent and the Grenadines the lowest at 52.9 (latest available readings).
Terms of Trade by Region
Latest available reading (periods may differ by country). Choose a region or “All countries”.
Terms of Trade — All Countries
Sorted by latest value. Click headers to re-sort.
| # | Country | Last | Previous | Period |
|---|---|---|---|---|
| 1 |  Saudi Arabia | 168.9 | 168.1 | 2024 |
| 2 | American Samoa | 167.2 | 208.6 | 2024 |
| 3 | Australia | 160.5 | 172.2 | 2024 |
| 4 | Pakistan | 155.7 | 140.9 | 2024 |
| 5 | Laos | 155.0 | 153.4 | 2024 |
| 6 | Chad | 150.6 | 145.3 | 2024 |
| 7 | Ghana | 148.8 | 118.7 | 2024 |
| 8 | Mali | 145.0 | 117.8 | 2024 |
| 9 | Peru | 145.0 | 128.8 | 2024 |
| 10 | DR Congo | 142.4 | 134.0 | 2024 |
| 11 | Colombia | 140.1 | 139.2 | 2024 |
| 12 | Guyana | 139.5 | 141.2 | 2024 |
| 13 | Algeria | 138.2 | 140.5 | 2024 |
| 14 | Suriname | 137.9 | 117.1 | 2024 |
| 15 | Ivory Coast | 136.2 | 92.0 | 2024 |
| 16 | Uzbekistan | 135.1 | 123.3 | 2024 |
| 17 | Chile | 134.9 | 127.9 | 2024 |
| 18 | Curacao | 134.6 | 138.4 | 2024 |
| 19 | Liberia | 134.3 | 119.2 | 2024 |
| 20 | Guinea | 132.0 | 113.5 | 2024 |
| 21 | Burkina Faso | 131.6 | 107.4 | 2024 |
| 22 | Belarus | 131.4 | 124.0 | 2024 |
| 23 | Papua New Guinea | 131.2 | 130.4 | 2024 |
| 24 | Guinea-Bissau | 130.5 | 115.6 | 2024 |
| 25 | Sao Tome and Principe | 130.3 | 107.0 | 2024 |
| 26 | Rwanda | 129.9 | 114.8 | 2024 |
| 27 | Angola | 128.3 | 129.0 | 2024 |
| 28 | Turkmenistan | 127.5 | 142.9 | 2024 |
| 29 | Nigeria | 127.1 | 127.4 | 2024 |
| 30 | Zambia | 126.4 | 116.4 | 2024 |
| 31 | Bhutan | 126.1 | 133.1 | 2024 |
| 32 | Burundi | 125.4 | 103.8 | 2024 |
| 33 | Cameroon | 123.7 | 106.6 | 2024 |
| 34 | Bahrain | 123.4 | 127.9 | 2024 |
| 35 | Kuwait | 123.3 | 133.8 | 2024 |
| 36 | Uganda | 123.2 | 104.6 | 2024 |
| 37 | Mauritania | 123.0 | 114.8 | 2024 |
| 38 | Iraq | 122.9 | 121.8 | 2024 |
| 39 | Nicaragua | 122.8 | 117.7 | 2024 |
| 40 | Trinidad and Tobago | 122.8 | 130.6 | 2024 |
| 41 | Qatar | 121.6 | 137.1 | 2024 |
| 42 | Myanmar | 121.3 | 119.9 | 2024 |
| 43 | Bermuda | 120.9 | 123.8 | 2024 |
| 44 | Brazil | 120.8 | 117.2 | 2024 |
| 45 | Timor-Leste | 120.2 | 120.7 | 2024 |
| 46 | Tanzania | 120.1 | 106.5 | 2024 |
| 47 | Iran | 119.8 | 121.1 | 2024 |
| 48 | Kazakhstan | 119.4 | 124.4 | 2024 |
| 49 | Libya | 119.3 | 121.2 | 2024 |
| 50 | Venezuela | 119.2 | 98.3 | 2018 |
| 51 | Kyrgyzstan | 118.6 | 107.2 | 2024 |
| 52 | Ethiopia | 118.5 | 103.0 | 2024 |
| 53 | Mozambique | 117.5 | 121.7 | 2024 |
| 54 | South Africa | 117.1 | 113.2 | 2024 |
| 55 | Paraguay | 116.2 | 92.0 | 2024 |
| 56 | Malaysia | 116.1 | 111.7 | 2024 |
| 57 | Russia | 116.1 | 114.6 | 2024 |
| 58 | Togo | 115.6 | 108.2 | 2024 |
| 59 | Norway | 115.5 | 123.9 | 2024 |
| 60 | Northern Mariana Islands | 114.6 | 109.3 | 2024 |
| 61 | Equatorial Guinea | 114.1 | 127.2 | 2024 |
| 62 | Senegal | 112.4 | 111.5 | 2024 |
| 63 | Egypt | 112.2 | 110.7 | 2024 |
| 64 | Ecuador | 112.0 | 108.0 | 2024 |
| 65 | Gabon | 111.7 | 116.1 | 2024 |
| 66 | Mongolia | 111.3 | 110.2 | 2024 |
| 67 | Indonesia | 110.2 | 108.4 | 2024 |
| 68 | Canada | 109.9 | 110.9 | 2024 |
| 69 | Sint Maarten (Dutch part) | 109.3 | 110.7 | 2021 |
| 70 | St Martin | 109.3 | 110.7 | 2021 |
| 71 | Niger | 109.2 | 106.7 | 2024 |
| 72 | Guam | 109.0 | 110.1 | 2024 |
| 73 | Zimbabwe | 108.9 | 97.4 | 2024 |
| 74 | Azerbaijan | 108.4 | 116.1 | 2024 |
| 75 | Armenia | 108.3 | 102.8 | 2024 |
| 76 | Slovenia | 108.3 | 104.7 | 2024 |
| 77 | Republic of the Congo | 108.2 | 110.4 | 2024 |
| 78 | United Arab Emirates | 107.8 | 111.1 | 2024 |
| 79 | Vanuatu | 107.7 | 93.2 | 2024 |
| 80 | New Zealand | 107.6 | 105.1 | 2024 |
| 81 | Namibia | 107.4 | 104.1 | 2024 |
| 82 | Yemen | 107.4 | 106.3 | 2024 |
| 83 | Afghanistan | 107.3 | 97.5 | 2024 |
| 84 | Syria | 107.3 | 105.5 | 2024 |
| 85 | Tajikistan | 107.2 | 104.6 | 2024 |
| 86 | Argentina | 107.0 | 109.1 | 2024 |
| 87 | Dominican Republic | 107.0 | 103.8 | 2024 |
| 88 | Central African Republic | 106.9 | 91.9 | 2024 |
| 89 | Vietnam | 106.5 | 103.3 | 2024 |
| 90 | Bosnia and Herzegovina | 106.0 | 106.5 | 2024 |
| 91 | United States | 105.4 | 106.5 | 2024 |
| 92 | New Caledonia | 105.1 | 117.1 | 2024 |
| 93 | Mexico | 104.4 | 101.4 | 2024 |
| 94 | Latvia | 103.7 | 102.9 | 2024 |
| 95 | Italy | 103.6 | 100.8 | 2024 |
| 96 | North Korea | 103.6 | 104.2 | 2024 |
| 97 | Brunei | 103.2 | 111.5 | 2024 |
| 98 | Benin | 103.0 | 102.1 | 2024 |
| 99 | Sierra Leone | 103.0 | 103.3 | 2024 |
| 100 | St Kitts and Nevis | 102.6 | 100.3 | 2024 |
| 101 | Serbia | 102.5 | 101.7 | 2024 |
| 102 | Germany | 102.1 | 101.9 | 2024 |
| 103 | Kiribati | 101.7 | 102.5 | 2024 |
| 104 | Malta | 101.2 | 103.1 | 2024 |
| 105 | Lithuania | 101.1 | 103.1 | 2024 |
| 106 | Turks and Caicos Islands | 101.1 | 88.8 | 2024 |
| 107 | Faroe Islands | 101.0 | 103.1 | 2024 |
| 108 | Czech Republic | 100.6 | 98.4 | 2024 |
| 109 | Hong Kong | 100.5 | 100.4 | 2024 |
| 110 | Nepal | 100.5 | 96.7 | 2024 |
| 111 | Jamaica | 100.3 | 99.4 | 2024 |
| 112 | Netherlands | 100.3 | 95.4 | 2024 |
| 113 | 🌐World | 100.2 | 100.4 | 2024 |
| 114 | Micronesia | 100.1 | 97.4 | 2024 |
| 115 | Costa Rica | 99.9 | 97.8 | 2024 |
| 116 | Poland | 99.8 | 99.5 | 2024 |
| 117 | Sudan | 99.4 | 93.3 | 2024 |
| 118 | Estonia | 99.3 | 99.6 | 2024 |
| 119 | Hungary | 99.3 | 101.5 | 2024 |
| 120 | United Kingdom | 99.2 | 95.6 | 2024 |
| 121 | Eritrea | 99.0 | 95.7 | 2024 |
| 122 | Georgia | 99.0 | 97.0 | 2024 |
| 123 | Belgium | 98.7 | 99.3 | 2024 |
| 124 | Marshall Islands | 98.5 | 98.2 | 2024 |
| 125 | Fiji | 98.3 | 99.3 | 2024 |
| 126 | Philippines | 98.2 | 93.9 | 2024 |
| 127 | Switzerland | 97.9 | 95.8 | 2024 |
| 128 | Kenya | 97.8 | 92.1 | 2024 |
| 129 | North Macedonia | 97.2 | 93.5 | 2024 |
| 130 | Honduras | 97.0 | 94.2 | 2024 |
| 131 | Portugal | 97.0 | 95.5 | 2024 |
| 132 | Lebanon | 96.9 | 95.8 | 2024 |
| 133 | Bahamas | 96.5 | 97.5 | 2024 |
| 134 | Macao | 96.5 | 94.9 | 2024 |
| 135 | Palau | 96.5 | 97.2 | 2024 |
| 136 | Malawi | 96.3 | 88.0 | 2024 |
| 137 | Andorra | 96.2 | 94.7 | 2024 |
| 138 | St Lucia | 96.0 | 92.8 | 2024 |
| 139 | Uruguay | 96.0 | 102.8 | 2024 |
| 140 | Barbados | 95.7 | 97.5 | 2024 |
| 141 | France | 95.6 | 95.4 | 2024 |
| 142 | Sweden | 95.5 | 95.9 | 2024 |
| 143 | Belize | 95.4 | 96.1 | 2024 |
| 144 | Gambia | 95.3 | 95.9 | 2024 |
| 145 | Austria | 95.2 | 95.1 | 2024 |
| 146 | Samoa | 95.2 | 92.1 | 2024 |
| 147 | Aruba | 95.1 | 79.3 | 2024 |
| 148 | Moldova | 95.1 | 90.9 | 2024 |
| 149 | El Salvador | 94.8 | 97.0 | 2024 |
| 150 | Finland | 94.5 | 95.9 | 2024 |
| 151 | Mauritius | 94.4 | 88.2 | 2024 |
| 152 | Slovakia | 94.0 | 93.6 | 2024 |
| 153 | Greece | 93.9 | 94.5 | 2024 |
| 154 | Djibouti | 93.8 | 91.7 | 2024 |
| 155 | Spain | 93.6 | 93.7 | 2024 |
| 156 | Oman | 93.5 | 98.9 | 2024 |
| 157 | Israel | 93.3 | 92.1 | 2024 |
| 158 | Jordan | 93.3 | 96.5 | 2024 |
| 159 | Romania | 93.1 | 93.0 | 2024 |
| 160 | Singapore | 92.9 | 93.3 | 2024 |
| 161 | Bulgaria | 92.7 | 96.0 | 2024 |
| 162 | Cuba | 92.6 | 95.1 | 2024 |
| 163 | Cape Verde | 92.1 | 94.6 | 2024 |
| 164 | Tunisia | 91.8 | 89.3 | 2024 |
| 165 | India | 91.3 | 87.5 | 2024 |
| 166 | Thailand | 90.7 | 90.2 | 2024 |
| 167 | Eswatini | 90.5 | 90.0 | 2024 |
| 168 | Seychelles | 90.3 | 94.1 | 2024 |
| 169 | Haiti | 89.8 | 88.0 | 2024 |
| 170 | Tonga | 89.8 | 85.4 | 2024 |
| 171 | Japan | 89.6 | 86.5 | 2024 |
| 172 | Maldives | 88.9 | 92.2 | 2024 |
| 173 | Cambodia | 88.8 | 84.8 | 2024 |
| 174 | Iceland | 88.4 | 92.4 | 2024 |
| 175 | South Korea | 88.3 | 85.4 | 2024 |
| 176 | Denmark | 87.6 | 89.7 | 2024 |
| 177 | Croatia | 87.0 | 87.9 | 2024 |
| 178 | Turkey | 86.8 | 86.7 | 2024 |
| 179 | Greenland | 86.7 | 88.9 | 2024 |
| 180 | Sri Lanka | 86.7 | 85.6 | 2024 |
| 181 | Panama | 86.4 | 86.1 | 2024 |
| 182 | Grenada | 86.1 | 83.8 | 2024 |
| 183 | Luxembourg | 85.5 | 90.7 | 2024 |
| 184 | Morocco | 85.3 | 83.6 | 2024 |
| 185 | Bolivia | 84.9 | 79.6 | 2024 |
| 186 | Guatemala | 84.9 | 81.6 | 2024 |
| 187 | China | 84.7 | 90.2 | 2024 |
| 188 | Madagascar | 84.4 | 84.7 | 2024 |
| 189 | Antigua and Barbuda | 84.0 | 83.4 | 2024 |
| 190 | Bangladesh | 83.7 | 80.9 | 2024 |
| 191 | Naoero | 82.7 | 78.3 | 2024 |
| 192 | Cyprus | 82.0 | 83.5 | 2024 |
| 193 | Lesotho | 81.9 | 84.6 | 2024 |
| 194 | Cayman Islands | 81.6 | 89.3 | 2024 |
| 195 | Solomon Islands | 81.5 | 76.9 | 2024 |
| 196 | Palestine | 81.4 | 78.8 | 2024 |
| 197 | French Polynesia | 81.0 | 89.3 | 2024 |
| 198 | Albania | 77.0 | 76.1 | 2024 |
| 199 | Botswana | 76.7 | 82.0 | 2024 |
| 200 | Ukraine | 75.7 | 79.4 | 2024 |
| 201 | Somalia, Fed. Rep. | 75.1 | 116.3 | 2024 |
| 202 | Dominica | 71.8 | 67.5 | 2024 |
| 203 | Comoros | 69.7 | 65.3 | 2024 |
| 204 | Ireland | 67.6 | 63.9 | 2024 |
| 205 | Gibraltar | 67.5 | 49.8 | 2024 |
| 206 | British Virgin Islands | 59.5 | 56.4 | 2024 |
| 207 | St Vincent and the Grenadines | 52.9 | 51.5 | 2024 |
Terms of Trade around the world — in simple words
Overview
Terms of Trade is available for 205 economies with recent data. The median value is 101.2 and the simple average is 105.5.
Highest: Saudi Arabia (168.9), American Samoa (167.2), Australia (160.5), Pakistan (155.7), Laos (155.0).
Lowest: St Vincent and the Grenadines (52.9), British Virgin Islands (59.5), Gibraltar (67.5), Ireland (67.6), Comoros (69.7).
Major economies
Among the 19 major economies tracked here, Saudi Arabia (168.9) has the highest reading and China (84.7) the lowest. Their median is 102.1.
Terms of Trade — Regional Medians
Median of the latest readings of countries in each World Bank region. The median is the middle value — half the countries are above it and half below.
| Region | Countries | Median |
|---|---|---|
| East Asia & Pacific | 36 | 101.1 |
| Europe & Central Asia | 51 | 98.7 |
| Latin America & Caribbean | 39 | 99.9 |
| Middle East, North Africa, Afghanistan & Pakistan | 23 | 107.4 |
| North America | 3 | 109.9 |
| South Asia | 6 | 90.1 |
| Sub-Saharan Africa | 47 | 114.1 |
Understanding Terms of Trade — a simple guide
What it measures
The ratio of export prices to import prices, indexed to 2015 = 100.
How it is calculated
Export price index ÷ import price index × 100 (2015 = 100).
If export prices rise faster than import prices, the index goes above 100.
An improving index raises national income.
A falling index means imports became relatively more expensive.
Why it matters for the economy and markets
An improving terms of trade raises national income without any change in volumes.
How to read it
Commodity exporters see large swings as commodity prices move.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What does terms of trade measure?
Which country has the highest terms of trade?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.