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English definition of “balance of payments”

balance of payments

noun [singular]    
ECONOMICS the difference between the amount of money a country receives from exports, foreign trade, etc. and the amount it spends on imports, etc. from other countries: A healthy balance of payments and huge foreign-exchange reserves will allow most Asian countries to finance expensive oil imports for a long time. a balance of payments deficit/surplus
(Definition of balance of payments noun from the Cambridge Business English Dictionary © Cambridge University Press)
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