balance of trade (BOT) |
Definition
Largest component of a country's current account in its balance of payments (BOP) accounts, it shows the difference between export earnings and import expenditure. Called 'favorable' when the amount realized from physical (or tangible or visible) exports is more than the amount spent on physical imports, otherwise called 'unfavorable.' Also called trade balance.
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balance of trade (BOT) is in the Economics, Politics, & Society and International Trade & Relations subjects.
balance of trade (BOT) appears in the definition of the following term: mercantilism
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