Export Quota

Restrictions imposed on own exports by a country, either voluntarily or on the behest of other countries. Reasons for its imposition may include (1) protection of local industry from shortages of raw materials, (2) protection of local population from shortages of foodstuffs or other essential goods, (3) maintenance of international commodity prices or orderly marketing, (4) export restraint agreement with the members of a producer’s cartel (such as OPEC), or (5) export restraint agreements with consumer countries.

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