Definition of balance of trade noun from the Oxford Advanced Learner's Dictionary


balance of trade

BrE BrE//ˌbæləns əv ˈtreɪd//
; NAmE NAmE//ˌbæləns əv ˈtreɪd//
(also trade balance) [singular]
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the difference in value between imports and exports a balance-of-trade deficit (= when a country spends more on imports than it earns from exports)
See the Oxford Advanced American Dictionary entry: balance of trade