Definition of balance of payments in English:

balance of payments

  • The difference in total value between payments into and out of a country over a period.
    More example sentences
    • The balance of payments only records the value of given goods bought and sold by an individual or a group of individuals.
    • The result was a deficit in the so-called balance of payments, which was paid for by foreigners cashing in those dollars for gold.
    • The idea of calculating the so-called national balance of payments in a free market economy will be absurd.
See parent entry: balance

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Word of the day milord
Pronunciation: mɪˈlɔːd
noun
used to address an English nobleman