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TeachMeFinance.com Balance of trade -- 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." another definition... Balance of Trade -- The difference in value between a country's total imports and exports over a specific time period. historic definition... Balance of trade -- The difference in money value between sales and purchases; in foreign trade the difference in money value between exports and imports. As commonly used the term balance of trade signifies the balance or difference in favor of a country, for instance, the United States as against the rest of the world; or in favor of the rest of the world and against that country. To be exact the term balance of international trade should be employed, although it seldom is. Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.