You have data on the weighted average price indices of imports (IUV - import unit value) and exports (EUV - export unit value) of Denmark, Belgium and Latvia for the period 2011-2015. Calculate the price ratio of the NBTT (Net Barter Terms of Trade) indicator and comment on its dynamics.

Indices of average import and export prices of Denmark, Belgium and Latvia in the period 2011-2015:

First one is Denmark, second one is Belgium and the third one is Latvia

Answer:

Denmark - NBTT 3; 2; 4; 5; 1 (for five years) and then for Belgium and Latvia. Make a comment by country and between countries!

Condition (2) What are the similarities and differences between "Net Terms of Trade" and "Commodity Terms of Trade"?