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balance of trade (BOT)Largest component of a country's current account in its balance of payments (BOP) accounts, it shows the difference between export earnings and importexpenditure. Called 'favorable' when the amount realized from physical (ortangible or visible) exports is more than the amount spent on physical imports, otherwise called 'unfavorable.' Also called trade balance. | ||
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Usage Example Vision of postwar world free trade, which also involved lowering tariffs and among other things maintaining a balance of trade via fixed exchange rates that would be favorable to the capitalist system.[citation needed] Thus, the more developed market economies agreed with the U.S. Source: Bretton Woods system - Wikipedia, the free encyclopedia | ||
Dr. Vijay Pithadia, FIETE, PhD, MBA Director, PhD Guided: 5, Author of 6 Books, Google Scholar Citations - 617, h-index - 8, i10-index-8, M: +91 9898422655 UGC/Scopus/Web of Science Publication: 31, Referred Publication: 66, Book Chapters: 12, Full Papers Published in Conference Proceedings: 21, Patent Published: 3, Invited Lectures and Chairmanship etc.: 41, Conference Organized: 4, AICTE faculty ID: 1-24647366683