balance of trade

[ bal-uhns uhv treyd ]

noun

, Economics.

1. the difference between the values of the exports and imports of a country, said to be favorable when exports are greater, and unfavorable when imports are greater. trade deficit ( def ), trade surplus ( def ).

balance of trade

noun

1. economics the difference in value between total exports and total imports of goods Also calledvisible balance Compare invisible balance

balance of trade

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

Notes

A nation whose imports are worth more than its exports is said to have an unfavorable balance of trade, or to be running a trade deficit .

Word History and Origins

Origin of balance of trade¹

First recorded in 1660–70

Related Words

• balance of payments
• trade deficit