Definition of deficit noun from the Oxford Advanced Learner's Dictionary

     

    deficit

     noun
    noun
    BrE BrE//ˈdefɪsɪt//
     
    ; NAmE NAmE//ˈdefɪsɪt//
     
     
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  1. 1(economics) the amount by which money spent or owed is greater than money earned in a particular period of time a budget/trade deficit The trade balance has been in deficit for the past five years. CollocationsInternational relationsTrade facilitate/​regulate trade (with other countries) form/​join a trading bloc live in/​compete in a global/​the world economy support/​promote free trade adopt/​call for/​oppose protectionist measures erect/​impose/​reduce/​remove trade barriers impose/​lift/​raise/​eliminate import tariffs (on something) have/​run a huge/​large/​growing trade surplus/​deficit embrace/​resist/​drive globalizationPolitics and law conduct/​handle/​talk about/​discuss foreign policy pursue an aggressive/​a hawkish foreign policy require/​use/​conduct diplomacy establish/​break off/​sever/​restore diplomatic relations foster/​promote/​strengthen regional cooperation facilitate/​achieve economic/​political integration exercise/​defend/​protect/​transfer/​restore/​regain national/​state/​full/​limited sovereignty consolidate/​extend/​lose/​retain your power (in the region) hold/​maintain/​change/​alter/​shift/​be a shift in the balance of power (in the region) cause/​create/​open/​expose/​heal/​repair a deep/​growing/​major/​serious rift between X and YMeetings and agreements have/​hold/​host/​attend an international conference/​an economic forum/​a G20 summit launch a new round of global/​multilateral/​world trade negotiations send/​head/​lead/​meet a high-level/​an official/​a trade delegation begin/​start/​continue/​resume peace talks be committed to/​be opposed to/​disrupt/​undermine/​derail/​sabotage the peace process negotiate/​achieve a lasting political settlement broker/​sign a peace deal/​agreement/​treatyConflict be/​constitute/​pose a threat to global security compromise/​endanger/​protect national security justify/​be in favour of/ (especially US English) be in favor of/​be against military intervention threaten/​authorize/​launch/​take/​support/​oppose unilateral/​pre-emptive military action impose/​enforce/​lift/​end economic sanctions/​an arms embargo/​a naval blockade close/​protect/​secure/​patrol the border lead/​be involved in a peacekeeping operationAid negotiate/​announce a $15 billion aid package/​an economic stimulus package send/​provide/​request/​cut off military aid bring/​provide emergency/​humanitarian relief deliver/​distribute medical supplies/(British English) food parcels fund/​run a foreign/​a local/​an international NGO reduce/​eradicate child/​global/​world poverty compare surplus
  2. 2(formal) the amount by which something, especially an amount of money, is too small or smaller than something else There's a deficit of $3 million in the total needed to complete the project. The team has to come back from a 2–0 deficit in the first half.
  3. Word Origin late 18th cent.: via French from Latin deficit ‘it is lacking’, from the verb deficere ‘desert or fail’, from de- (expressing reversal) + facere ‘do’.Extra examples If the government didn’t run such huge deficits, the country would not have financial problems. The UK remained in deficit with all countries outside the EU. The US trade deficit ballooned to a record $167 billion. The company has run up a deficit of £30 000. The government was forced to sell state-owned companies to fund the budget deficit. The trade balance shows a deficit of two million dollars. United are hoping to overturn a two-goal deficit from the first leg. We will find it hard to make up this deficit. You cannot cut a budget deficit simply by raising taxes. a budget deficit running at 7% of GDP attention deficit disorder the US trade deficit with Japan to prevent the country from moving into deficit The team has come back from a 2 - 0 deficit in the first half. There’s a deficit of $3 million in the total needed to complete the project. We are facing a substantial trade deficit.
See the Oxford Advanced American Dictionary entry: deficit