What does "balance of trade" mean?

The difference between the monetary value of exports and imports in an economy over a certain period of time.

Balance of trade

Common synonyms include: big business, business, business dealings, commerce, commercial affairs, commercial relations.

noun

noun ·Rare ·Advanced level

Noun

1
The difference between the monetary value of exports and imports in an economy over a certain period of time. uncountable, usually
2
the difference in value over a period of time of a country's imports and exports of merchandise wordnet