balance of trade

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balance of trade

A country's balance of trade is favorable when it exports more goods than it imports.

Definition
  1. Noun:
    • The difference in value over a period of time between a country's imports and exports of merchandise. It is a key component of a nation's current account in its balance of payments. The "balance of trade" specifically measures the monetary value of physical goods (merchandise) that cross a country's borders.
Usage
  • The term is used in economics, international trade, and government policy discussions.
  • It is typically described as favorable or positive when the value of exports exceeds the value of imports (a trade surplus).
  • It is described as unfavorable or negative when the value of imports exceeds the value of exports (a trade deficit).
  • It is often analyzed over specific periods, such as monthly, quarterly, or annually.
Examples
  • Noun:
    • The country's balance of trade showed a surplus last quarter due to strong automotive exports.
    • Policymakers are concerned about the deteriorating balance of trade.
    • A favorable balance of trade can contribute to a stronger national currency.
Advanced Usage
  • "Visible balance of trade": Sometimes used to specify that it only includes tangible goods, distinguishing it from the "balance of services."
  • The overall balance of payments includes the balance of trade plus the balance of services, income, and current transfers.
Variants and Related Words
  • Trade balance: A synonymous term.
  • Trade surplus: The situation where exports exceed imports.
  • Trade deficit: The situation where imports exceed exports.
  • Net exports: A closely related economic aggregate representing the value of a country's total exports minus its total imports.
Synonyms
  • Trade balance
  • Commercial balance
  • Merchandise trade balance
Related Terms and Concepts
  • Current Account: A broader measure that includes the balance of trade, plus trade in services, primary income, and secondary income.
  • Protectionism: Government policies (like tariffs) sometimes implemented to try to improve a nation's balance of trade.
balance of trade

A country's balance of trade is favorable when it exports more goods than it imports.

Noun
  1. the difference in value over a period of time of a country's imports and exports of merchandise
    • a nation's balance of trade is favorable when its exports exceed its imports

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