BALANCE OF PAYMENTS / BALANCE OF TRADE Definition

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BALANCE OF PAYMENTS / BALANCE OF TRADE is the difference between a countrys total export dollar value and its total import dollar value, generally or with respect to a particular trading partner. A positive balance means a net inflow of capital, while a negative means capital flows out of the country.

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LIBOR see LONDON INTERBANK OFFERED RATE.

PURCHASE AGREEMENT is a contract stating the terms of a purchase.

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