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Barter trade is one of the oldest forms of commerce, where people exchange goods or services directly without using money.
Long before currency was invented, people would trade items they had for things they needed. For example, someone with extra crops might trade with someone who has more livestock.
While most of the world now uses money for trade, there are still places where bartering 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. Bartering can help communities thrive, allowing people to share resources and meet their needs in practical ways.
Below are five places where trade by barter is still practised:
1. Venezuela
Venezuela is a country where bartering has become necessary for many people. Due to a struggling economy and high inflation, the value of the Venezuelan currency has dropped significantly. This has led to shortages in basic goods, and money often loses value quickly. Many people in rural areas have started to barter goods like food, medicine, and personal items.
For example, people may trade rice for cooking oil or sugar for soap. This direct trade helps people get what they need without relying on currency, which can be unstable or hard to access.
2. 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. While it’s mainly seen in international deals, the concept of bartering remains significant in Iran’s economy.
3. Zimbabwe
Zimbabwe is another country where bartering has become common, especially in rural areas. The country has experienced severe inflation in the past, which made its currency nearly worthless at times. In response, some communities turned to bartering to trade goods like livestock, grains, and vegetables. Although Zimbabwe has worked to stabilise its currency, bartering still exists in some regions.
4. Papua New Guinea
In Papua New Guinea, bartering remains a traditional practice, especially in rural and isolated communities. People often trade items like fish, crops, and handicrafts. In some parts of the country, people also use shells and other items as forms of currency. Bartering here isn’t just about necessity but also tradition and culture. For many people in Papua New Guinea, trading goods directly is a way to maintain close community ties and share resources.
5. Cuba
In Cuba, bartering is sometimes used due to limited access to goods and economic restrictions. People may trade goods like fruits, vegetables, and even skills such as repairs or cooking services. For instance, someone with extra eggs might exchange them for a bag of rice or help fixing a bicycle. Bartering helps locals manage shortages, allowing them to access items that are hard to find or afford with money alone.
This ancient form of trade may be less common, but it continues to serve a valuable purpose where it’s needed most.