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

balance of trade

noun
 
/ˌbæləns əv ˈtreɪd/
 
/ˌbæləns əv ˈtreɪd/
(also trade balance)
[singular]
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  1. 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 balance of trade in the Oxford Advanced American DictionarySee balance of trade in the Oxford Learner's Dictionary of Academic English
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