From Longman Dictionary of Contemporary Englishbalance of tradeˌbalance of ˈtrade noun [singular] PEthe difference in value between the goods a country buys from abroad and the goods it sells abroad
Examples from the Corpus
balance of trade• And the way to accumulate it was to maintain a favorable balance of trade.• This is balance of trade improving for those countries that supply other member countries with diverted imports.• Also, the pressure on interest rates has been down and the balance of trade has shifted into surplus.• For each individual country in the union however the balance of trade deteriorates on the import side.• Trade creation induces a rise in imports and hence induces a deficit in the balance of trade.• This leads to an improvement in the balance of trade of union members.• The balance of trade showed a deficit in 1988 of US$699,300,000.• The balance of trade with the Soviet Union is to be paid in dollars, though loans are promised to cover that.From Longman Business Dictionarybalance of tradeˌbalance of ˈtrade noun [singular]ECONOMICS1the part of a country’s balance of payments that relates to the value of goods and services imported and exportedSYNTRADE BALANCEThe overall balance of trade in the UK is improving as a result of the strong currency.2the difference in the total value of imports and exports between two countries or areasThe US and Europe sell nearly $100 billion worth of goods and services a year to each other. For the moment, the balance of trade is in the US’s favor. → adverse balance of trade → favourable balance of trade 