balance of trade


balance of trade

noun

  1. the difference between the values of exports and imports of a country, said to be favorable or unfavorable as exports are greater or less than imports.

noun

  1. economics the difference in value between total exports and total imports of goodsAlso called: visible balance Compare invisible balance

That part of the balance of payments relating to goods only (as opposed to services, monetary movements, official reserve transactions, etc.).

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