Balance Of 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 payments was in deficit due to a significant increase in imports.
- The government implemented policies to improve the balance of payments by reducing imports and increasing exports.
- A favorable balance of payments is crucial for a country's economic stability and growth.
- The economist studied the balance of payments to understand the country's economic performance.
- The central bank closely monitored the balance of payments to ensure that the country's currency remained stable.