Balance of trade (BOT) - Financial definition
Financial acronyms
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Concise definition of the term balance of trade
A country’s balance of trade is the difference between the value of all the goods and services it imports and the total value of the goods and services it exports, for a given period.
Comprehensive definition of the term balance of trade
If the value of the imports is higher than the value of the exports, the country is said to have a trade deficit. If, on the other hand, the value of the exports exceeds the value of the imports, it is said to have a trade surplus.