Trade gap and Trade deficit

Trade gap noun - The difference in value over a period of time of a country's imports and exports of merchandise.

Trade deficit and trade gap are semantically related in balance of international payments topic. In some cases you can use "Trade deficit" instead a noun phrase "Trade gap", when it comes to topics like trade balance.

Trade deficit noun - An excess of imports over exports.

Trade gap and trade deficit are semantically related in balance of international payments topic. You can use "Trade gap" instead a noun phrase "Trade deficit", if it concerns topics such as trade balance.