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The Importance of Terms of Trade Criterions (TT) in Economic Development Planning/ Iraq : An applied Studying Case | ||
| Al Kut Journal of Economics Administrative Sciences | ||
| Article 1, Volume 0, Issue 15, 2018, Pages 74-92 | ||
| Author | ||
| Dr.Hssain Ashor Gber | ||
| Abstract | ||
| Abstract The International Terms of Trade are considered to be as important criterions which should be taken for planning in order to find economic development requirements. The objective of study is to indicate the importance of these criterions. The study found that an excessive increase of (Net Barter Terms of Trade)NBTT,(Gross Barter Terms of Trade) GBTT and ( Income Terms of Trade) ITT for foreign trade in existence of oil exports on the same values for Iraqi foreign trade for exporting commodities (without crude oil) for the period 2001- 2012. This explain the huge decrease in Terms of Trade for Iraq in case of non-oil exporting economy and then non ability to offer economic development requirements without oil exports and indicate that there is a large trade deficit in other economic sectors. The study has explored an increase in both ITT and NBTT for foreign trade in agricultural commodities in Iraq for the period 2001-2012, but GBTT values of manufacturing commodities are more than those in agricultural during the same period, this indicate a huge reduction in foreign trade of manufacturing commodities, which means that the problem of depending on oil revenue, will be increase in Iraq and must be solved. | ||
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