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Countertrade
What Does Countertrade Mean? A trade between two countries by which goods are exchanged for other goods rather than for hard currency.
Investopedia explains Countertrade 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.
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