The exchange of goods for goods in foreign trade is known as?

Counter trade is the term for exchanging goods for goods, rather than for money, in international trade. It is a modern, organised form of bartering used between countries, often when one country lacks sufficient foreign currency to pay for imports, so it agrees instead to pay with goods of an equivalent value.

The other terms describe different aspects of trade. Smuggling is the illegal movement of goods across a border to avoid duties or restrictions, which has nothing to do with the method of payment. Visible trade refers to trade in physical, tangible goods (as opposed to invisible trade in services), regardless of whether payment is in cash or goods. Entreport trade is where a country imports goods only to re-export them to another country, usually after some processing or storage, again independent of whether goods-for-goods exchange is used.

Examination reminder: whenever a question describes goods being swapped directly for other goods without money changing hands, the specific term to reach for is counter trade.