Balance of trade (BOT)

Balance of trade (BOT),

Definition of Balance of trade (BOT):

  1. Economists use the BOT to measure the relative strength of a country's economy. The balance of trade is also referred to as the trade balance or the international trade balance. A country that imports more goods and services than it exports in terms of value has a trade deficit. Conversely, a country that exports more goods and services than it imports has a trade surplus. The formula for calculating the BOT can be simplified as the total value of imports minus the total value of exports. .

  2. Balance of trade (BOT) is the difference between the value of a country's imports and exports for a given period and is the largest component of a country's balance of payments (BOP).

  3. Largest component of a countrys 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.

  4. The difference in value between a countrys imports and exports.

How to use Balance of trade (BOT) in a sentence?

  1. A country with a worsening balance of trade in manufactured products.
  2. I was examining the relationship of the two countries and I noticed the balance of trade was a perfect example of the economics involved.
  3. A country that imports more goods and services than it exports in terms of value has a trade deficit while a country that exports more goods and services than it imports has a trade surplus.
  4. Balance of trade (BOT) is the difference between the value of a country's imports and exports for a given period and is the largest component of a country's balance of payments (BOP).
  5. In 2019, Germany had the largest trade surplus followed by Japan and China while the United States had the largest trade deficit, even with the ongoing trade war with China, beating out the United Kingdom and India.
  6. The value of the imports and exports was check through a balance of trade , just to see how much money was in them all.
  7. It is important that a country has a good record of their imports and exports to get the right answer for what is their balance of trade .

Meaning of Balance of trade (BOT) & Balance of trade (BOT) Definition