Home Country's Economy

Definition

The home country's economy refers to the overall financial system within a nation where residents produce goods and services, trade domestically and internationally, invest capital, and consume resources. It includes various sectors such as agriculture, industry, services, and finance.

Related terms

Gross Domestic Product (GDP): The total value of all goods and services produced within a country's borders during a specific period.

Trade Balance: The difference between a country's exports (goods sold to other countries) and imports (goods bought from other countries).

Economic Development: The improvement in economic conditions, including factors like increased income levels, reduced poverty rates, improved infrastructure, and technological advancements.