NAAG Chapter 3: Expenditure — Terms of trade by country
The National Accounts at a Glance (NAAG) is based on the original publication and has nine chapters: The first chapter focuses on indicators of Gross Domestic Product (GDP). The second is about income and related indicators and presents measures of net national income, savings and net lending/net borrowing. The...
What the numbers show
NAAG Chapter 3: Expenditure — Terms of trade is currently reported for 40 countries. The highest value is 139.67 Index in Norway; the lowest is 90.71 Index in Japan.
The median across all reporting countries is 100.38 Index, and the mean is 102.27 Index.
The gap between the highest and lowest reporting country is a factor of about 2.
Over the past decade 28 countries rose and 12 fell. The largest increase was in Chile (up 38.1%), and the largest decrease in Switzerland (down 7.5%).
NAAG Chapter 3: Expenditure — Terms of trade: full country ranking
| # | Country | Latest | Year | 10-year change | Trend |
|---|---|---|---|---|---|
| 1 | Norway | 139.67 Index | 2025 | up 12.2% | rising |
| 1 | Estonia | 106.56 Index | 2025 | up 7.3% | rising |
| 2 | Colombia | 129.32 Index | 2024 | up 11.6% | rising |
| 2 | Slovenia | 100.66 Index | 2025 | up 2.1% | flat |
| 3 | Chile | 116.91 Index | 2025 | up 38.1% | rising |
| 3 | Türkiye | 100.63 Index | 2025 | down 1.1% | falling |
| 4 | Mexico | 111.93 Index | 2024 | up 11.0% | falling |
| 4 | Latvia | 100.35 Index | 2025 | up 11.0% | rising |
| 5 | Canada | 108.47 Index | 2025 | up 7.4% | rising |
| 5 | Netherlands | 99.83 Index | 2025 | up 1.6% | flat |
| 6 | Greece | 107.8 Index | 2025 | up 4.4% | rising |
| 7 | United States | 107.3 Index | 2024 | up 14.6% | falling |
| 8 | Iceland | 106.27 Index | 2025 | up 4.9% | falling |
| 8 | Lithuania | 96.97 Index | 2025 | down 0.2% | rising |
| 9 | Portugal | 105.83 Index | 2025 | up 8.6% | rising |
| 9 | Poland | 96.23 Index | 2025 | down 0.2% | rising |
| 10 | Luxembourg | 102.19 Index | 2025 | up 1.7% | flat |
| 11 | Spain | 101.64 Index | 2025 | up 2.9% | rising |
| 12 | Israel | 101.36 Index | 2025 | up 7.2% | rising |
| 13 | Indonesia | 101.06 Index | 2025 | down 4.3% | falling |
| 14 | OECD | 100.97 Index | 2024 | up 5.3% | flat |
| 15 | Czechia | 100.97 Index | 2025 | up 3.1% | rising |
| 16 | Australia | 100.61 Index | 2024 | up 23.8% | rising |
| 17 | Switzerland | 100.41 Index | 2025 | down 7.5% | rising |
| 18 | Hungary | 99.99 Index | 2025 | up 1.6% | flat |
| 19 | Germany | 99.67 Index | 2025 | up 2.3% | rising |
| 20 | New Zealand | 99.27 Index | 2024 | up 1.7% | rising |
| 21 | United Kingdom of Great Britain and Northern Ireland | 98.82 Index | 2025 | up 0.7% | rising |
| 22 | Finland | 98.35 Index | 2025 | down 0.6% | falling |
| 23 | Ireland | 97.59 Index | 2025 | down 4.1% | falling |
| 24 | Denmark | 97.56 Index | 2025 | down 0.5% | rising |
| 25 | Italy | 97.54 Index | 2025 | up 2.1% | flat |
| 26 | Sweden | 96.66 Index | 2025 | down 3.7% | falling |
| 27 | India | 96.3 Index | 2023 | up 9.0% | rising |
| 28 | Austria | 95.89 Index | 2025 | down 4.1% | falling |
| 29 | France | 95.81 Index | 2025 | down 3.7% | flat |
| 30 | Belgium | 94.8 Index | 2025 | down 4.4% | flat |
| 31 | South Africa | 94.26 Index | 2025 | up 11.9% | rising |
| 32 | Costa Rica | 93.52 Index | 2024 | up 1.3% | flat |
| 33 | Japan | 90.71 Index | 2024 | up 1.8% | falling |
Regions and income groups
Aggregates are excluded from the country ranking above so that a region can never outrank a country.
- Slovak Republic 95.82 Index
- Korea 93.72 Index
- Euro area 98.45 Index
- European Union 98.42 Index
About this data
The National Accounts at a Glance (NAAG) is based on the original publication and has nine chapters: The first chapter focuses on indicators of Gross Domestic Product (GDP). The second is about income and related indicators and presents measures of net national income, savings and net lending/net borrowing. The third chapter looks at the expenditure approach to GDP, with information on the key components of demand and imports. The fourth chapter presents indicators from a production perspective. The fifth chapter looks at household sector indicators such as household disposable income, saving and net worth. The sixth chapter focuses on general government, presenting indicators such as general government revenue, expenditure and gross debt. The seventh chapter looks at financial and non-financial corporations. The eighth chapter presents indicators of capital stock and depreciation. Finally, chapter 9 provides reference indicators, important in their own right but also because they are used in the construction of many of the indicators presented elsewhere in NAAG.