Import export boost through barter trading

Traditionally, barter was used as a means of exchange. The world barter itself brings to mind old movies where the doctor accepts a chicken or sack of potatoes for delivering a baby. With the advent of money, this system declined however, difficult economic situations have led to its revival. During the great depression and many other times in history, institutions have opened up to support the barter business. Is the economy facing the brunt due to difficult economic times? Barter might be your solution to boosting imports and exports.

Creates healthy partnerships

Outline your brand’s values, vision and mission statement while creating a barter relationship with another brand. For e.g. Several countries in the European Union are dumping products that are in surplus in their countries like electronic items without reciprocating the same. This breeds unhealthy competition. Rather opt for a company/country that you can create a healthy partnership with a brand that mutually complements each other's strengths and creates healthy partnerships.

Barter trade#boost imports#boost exports

Helps meet the demand for goods

Companies that originate from countries that are deficit in agricultural products can consider barter trading with countries with high agricultural produce instead of depending on the currency and depleting valuable currency. For e.g. Venezuela is open to accepting barter payments in the form of medicines and other products from India after severe restrictions laid down by the USA. Ensure that a barter exchange does not result in one country unfairly dumping their goods in the other. This is an excellent example of two countries working together, and meeting demands without the need for foreign currency.

Bridge deficits#International Barter

Enter different markets

Barter can be an effective way to enter into different markets, boosting business and much more. But for it to work, it should be a win-win situation for all the parties involved. Transparency and commitment between both countries is the key.

National markets#International markets

Use tech to find a fair market for your goods

Certain developing countries might be production-centric and might consider barter as a solution to find a market for their goods. Even though you might have a long-standing trading relationship, having an agreement can help in eliminating ambiguity. Preferential imports of goods from countries that are willing to import agricultural produce from India. For e.g. New Zealand and Australia have advised their farmers against sowing pulses to ensure it does not prevent import of pulses from India. This allows pulses to be fairly exchanged with other commodities. For barter to be successful, it is important that it be fair to all the parties involved.

To save valuable currency and to experience the benefits of barter, it is important that you consider barter long term. Create an account on an international barter trading site to help you connect with prospective customers. Happy bartering!