4 Countries Where Trade By Barter Prevails

Trade by barter is the act of exchanging goods or services between two or more parties without using money. It is the oldest form of commerce, and is believed to have originated with the Mesopotamia tribes and the Phoenicians.

While most of the world now uses money for trade, there are still places in the world where trade by barter is an essential part of daily life.

In some areas, it’s due to a lack of access to banking or currency, while in others, it’s simply part of the culture and tradition.

Find below four countries where trade by barter is prevalent:

Iran

In Iran, bartering is used in international trade because of economic sanctions that make it difficult for the country to engage in regular trade with other nations.

Iran sometimes trades oil for essential goods instead of using money. This practice helps Iran to bypass restrictions and still access important resources.

Zimbabwe

Zimbabwe  has experienced severe inflation in the past, which made its currency nearly worthless at times. In response, some communities turned to barter to trade goods like livestock, grains, and vegetables.

Papua New Guinea

In Papua New Guinea, bartering remains a traditional practice, especially in rural and isolated communities. People often trade items like fish.

Send Us A Press Statement Advertise With Us Contact Us

 And For More Nigerian News Visit GWG.NG