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International Trade vocabulary · Customs and Tariffs

Quota

Meaning in international trade, with examples

/ˈkwoʊtə/nounCommon term

In international trade, quota means: A limit on the quantity or value of a product that may be imported or exported in a certain period.

In Turkish: kota, tarife kontenjanı

How it is used

Two common types: an absolute quota, which stops imports once the limit is reached, and a tariff quota (tariff-rate quota), which allows a set quantity at a low duty and charges a higher duty above it. Importers follow how much of a quota has already been used.

Example sentences

  1. The tariff quota for this year was used up in March.

  2. Imports above the quota pay the full duty rate.

Common collocations

  • tariff quota
  • import quota
  • quota allocation
  • exceed the quota
  • tariffA tax charged by a government on imported goods, usually as a percentage of their value; also the official list of these rates.
  • non-tariff barrierAny obstacle to imports other than customs duties, such as quotas, licensing rules, technical standards or complicated paperwork.
  • customs dutyThe tax paid to customs on imported goods, calculated from their customs value, their HS code and sometimes their origin.
  • export licenseAn official permission from a government that a company needs before it can export certain controlled goods, such as dual-use items, military goods or some chemicals.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Customs and Tariffs

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