Balance of trade

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The balance of trade is that part of a nation's balance of payments dealing with imports and exports -- that is, trade in goods and services -- over a given period. If exports of goods exceed imports, the trade balance is said to be "favorable"; if imports exceed exports, the trade balance is said to be "unfavorable."

Sources

http://usinfo.state.gov/products/pubs/oecon/chap12.htm

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