balance of trade
Net export value
Balance of trade is the difference between the value of a country's exports and imports over a given period.
When exports exceed imports, the balance is positive (a trade surplus); when imports exceed exports, it's negative (a trade deficit).
Economists and politicians watch the balance of trade as an indicator of economic health, though its significance is debated: The U.S. runs a persistent trade deficit with China.
Goods sold abroad
- importsGoods brought in
- goodsThings for sale
- servicesActs performed for others
- commoditiesTradeable raw materials
Taxes on imports
- protectionismShielding local producers
- quotasMandated numerical limits
- dutiesRequired tasks or charges
- customsTraditional practices or import taxes
mercantilism · WTO · import restrictions · retaliatory tariffs · dumping · anti-dumping · bilateral agreements · most favored nation
Borrowing from other countries
- borrowingTemporary taking of another's
- unsustainableCannot be maintained indefinitely
State of being equal
- equalizationMaking things uniform
- adjustmentAlteration to improve fit
- correctionFixing of mistakes
- rebalancingRestoring proper proportions
exports
Goods sold abroad
tariffs
Taxes on imports
- protectionismShielding local producers
- quotasMandated numerical limits
- dutiesRequired tasks or charges
customs · mercantilism · WTO · import restrictions · retaliatory tariffs · dumping · anti-dumping · bilateral agreements · most favored nation · GATT
net exports
Exports minus imports
- accumulationCollected mass over time
foreign debt
Borrowing from other countries
- borrowingTemporary taking of another's
- unsustainableCannot be maintained indefinitely
parity
State of being equal
- equalizationMaking things uniform
- adjustmentAlteration to improve fit
- correctionFixing of mistakes
- business termsfranchising, revenue stream, board meeting, gross margin, markdown
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- tradecustoms, commerce, export, exports, quotas
- trade historycommerce, merchant, traders, colonial economy, trader
- economic dataGDP, CPI, PPI, inflation rates, inflation rate
- economic indicatorsGDP, GDP report, GNP, CPI, PPI
balance of tradedomestic economy
Internal financial system
local commerce · home market · interstate commerce · gross domestic product
balance, trade, balanced, unbalanced, imbalance, balancing, balances, unbalance, counterbalance