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English definition of “balance of trade”

balance of trade

noun [singular]     (also trade balance, also visible balance)
ECONOMICS the difference between the money that a country receives from exports and the money it spends on imports : Official figures yesterday showed the balance of trade in goods plunged to a record deficit . balance of trade deficit / surplus adverse / favourable balance of trade
(Definition of balance of trade noun from the Cambridge Business English Dictionary © Cambridge University Press)
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