Quantitative Restrictions

Quantitative Restrictions in International Trade

Meaning of Quantitative Restrictions, according to the Dictionary of International Trade (Global Negotiator): Explicit limit, or quotas, on the quantity of a good that can be imported or exported during a specified time period. This restrictions may be applied id a “selective” basis, with the varying limits set according to the country of origin, or o quantitative global basis that only specifies the total limit and thus tends to benefit more efficient suppliers. Quantitative restrictions are frequently managed through quotas a system of licensing. See import quota; quota.