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Balance of payments
1. A list, or accounting, of all of a country's international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; payments out of the country (payments) are entered as negative numbers called debits. 2. A single number summarising all of a country's international transactions: the balance of payments surplus.
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- Part of Speech: noun
- Synonym(s):
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- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
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