Balance Of International Payments (Noun)
Meaning
A system of recording all of a country's economic transactions with the rest of the world over a period of one year; "a favorable balance of payments exists when more payments are coming in than going out".
Classification
Nouns denoting possession and transfer of possession.
Examples
- The country's balance of international payments showed a significant surplus due to the increase in exports of its main commodity.
- A favorable balance of international payments is crucial for a country's economic stability and growth.
- The government implemented policies to improve the balance of international payments by reducing imports and increasing foreign investment.
- The country's balance of international payments was affected by the global economic downturn, resulting in a large deficit.
- Economists closely monitor a country's balance of international payments to assess its economic performance and make predictions about future trends.