1. an amount by which something, especially a sum of money, is too small; a shortage
2. the amount by which government spending exceeds revenue in a given period
Usage: economics

Examples

• The company reported a deficit of $2 million this quarter.
• The budget deficit has grown significantly over the past year.
• There is a deficit of qualified teachers in rural areas.
• The trade deficit widened as imports increased.
• The school district faces a funding deficit.
• Economists are concerned about the growing federal deficit.
• The water deficit in the region has caused serious problems.