| The New Dictionary of Cultural Literacy, Third Edition. 2002. |
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| trade deficit |
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| The condition that exists when the value of what a country imports exceeds the value of what it exports; also called an unfavorable balance of trade. | 1 |
| ‡ Trade deficits, because they imply that capital is leaving a country, can cause higher interest rates. | 2 |
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| | | The New Dictionary of Cultural Literacy, Third Edition. Edited by E.D. Hirsch, Jr., Joseph F. Kett, and James Trefil. Copyright © 2002 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. |
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