Noun
the difference in value over a period of time of a country's imports and exports of merchandise
Source: WordNeta nation's balance of trade is favorable when its exports exceed its imports Source: Internet
A systematic and coherent explanation of balance of trade was made public through Thomas Mun 's argument England's Treasure by Forraign Trade, or the Balance of our Forraign Trade is The Rule of Our Treasure. Source: Internet
Bilateral trade amounted to $2.4 billion in 2010–2011 but with Kenyan imports from India accounting for $2.3 billion, the balance of trade was heavily in India's favour. Source: Internet
Because a nation's exchange rate has a big impact on its 'balance of trade' and its 'balance of payments', many economists favour freely floating exchange rates over the older, fixed (or pegged) rates of foreign currency exchange. Source: Internet
And, just as easily, a deficit in the 'balance of trade' may be offset by a larger surplus in capital transfers from overseas to produce a balance of payments surplus overall. Source: Internet
As an illustration of this problem, when official data for all the world's countries are added up, exports exceed imports by almost 1%; it appears the world is running a positive balance of trade with itself. Source: Internet