Azerbaijan imported wheat from Romania in exchange for crude oil and Vietnam exchanged rice for Philippine fertilizer and coconuts. Both scenarios are examples of which of the following?

Question

Quizplus · Accepted Answer

Both scenarios describe a type of trade known as countertrade, where goods are exchanged for other goods instead of using traditional currency. This type of trade is often used by countries that have limited access to foreign currency or to bypass international trade barriers.

Azerbaijan Imported Wheat from Romania in Exchange for Crude Oil