Definitions for "Quantitative Restriction"
A restriction on trade, usually imports, limiting the quantity of the good or service that is traded; a quota is the most common example, but VERs usually take the form of QRs. QRs on traded services are more likely to restrict the number or activities of foreign service providers than the services themselves, since the latter are hard to monitor and measure.
A term that applies to a quota or other administratively determined ceiling on imports or exports, usually expressed in volume terms, and sometimes specifying the amount that may be imported from each supplying country. QRs are distinguished from trade restrictions that operate through the price mechanism, "T such as a tariff or surcharge. GATT Article 11 generally prohibits QRs, although several exceptions are made.
Explicit limits, or quotas, on the physical amounts of particular commodities that can be imported or exported during a specified time period, usually measured by volume but sometimes by value.