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Glite Dictionary
balance of payments

balance of payments

2 4.6
A record of a country's money that comes in and goes out with other countries over a year
  • noun
  • /ˈbæl.əns əv ˈpeɪ.mənts/
  • Specialized
translation icon : balanza de pagos
  • The country recorded a significant deficit in its balance of payments last year.
  • balance of payments deficit
  • balance of payments surplus
  • balance of payments crisis

Examples

  • China needs the United States to maintain its entire balance-of-payments system.

    Academic text (2012)

  • What would happen if the trade surplus were to shrink precipitously, provoking serious balance-of-payment difficulties?

    Academic text (1991)

  • In addition to the balance of payments, economic development was mentioned as an important control variable.

    Academic text (1990)

  • Discussion of the balance of payments problem of the 1920s and 1930s included careful attention.

    Academic text (1994)

  • The surplus on West Germany's current account of its balance of payments, therefore, should fall.

    Academic text (1990)

  • Canada is already losing jobs and markets, while Mexico confronts its balance-of-payments difficulties.

    Academic text (1993)

  • However, war with Iran in the 1980s reversed the balance of payments, plunging the country into deficit.

    Academic text (1995)

  • In addition, the country has also been facing hyperinflation, an unfavorable balance of payments, and escalating fiscal deficits.

    Academic text (1992)

  • In recent years, the government has focused on improving its balance of payments to strengthen the economy.

  • Experts predict that a stable balance of payments is crucial for attracting foreign investment.

Synonyms

balance of international payments
vsbalance of payments
  • Specialized
7.7

A record of all money and goods a country sends to and receives from other countries in a year

means the same but uses a different standard phrasing for the term

Antonyms

deficit
674 4.3

An amount by which money or resources are less than needed

Surface Forms

balance of payments singular
balances of payments plural

Morphology

balance + of + payment

The phrase composes 'balance' (an amount or remainder) with 'payments' (money transfers), so a learner who knows the words can infer it concerns an amount or status related to payments. However, the term denotes a specific, technical record of a country's international transactions rather than a simple literal amount, so the full meaning is specialized and not fully predictable from the parts.

Etymology

Balance of payments comes from the simple image of an account book where all a country's money payments to and from other countries are listed, and the balance is the final number showing if more money goes out than comes in. So, it means the 'record of transactions' that shows whether a country has a 'surplus' (more comes in) or a 'deficit' (more goes out).