Balance of trade
the difference between the values of exports and imports of a country, said to be favorable or unfavorable as exports are greater or less than imports.
noun
(economics) the difference in value between total exports and total imports of goods Also called visible balance Compare invisible balance
That part of the balance of payments relating to goods only (as opposed to services, monetary movements, official reserve transactions, etc.).
Note: A nation whose imports are worth more than its exports is said to have an unfavorable balance of trade, or to be running a trade deficit.
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