In international trade a limitation of the quantity of goods that may be imported into a country from all countries or from specific countries during a period of time. There are to type of quotas:
- Global quota. Permit a limited number of unit of specified merchandise to be entered or withdrawn for consumption in a country during specified periods of time.
- Tariff-rate quotas. Permit a specified quantity of merchandise to be entered or withdrawn for consumption in a country at a reduced tariff during a specified period of time.