Glossary term
Countertrade
Arrangements where payment is made wholly or partly in goods or services rather than money.
Transactions in which some or all of the consideration is goods or services rather than cash: barter, counterpurchase, buy-back and offset arrangements.
It appears where currency is scarce or where a government requires reciprocal purchases as a condition of a contract. Valuing such goods for customs is a known difficulty, since there is no straightforward price paid.