Definition, Meaning & Synonyms

global-glut

Noun

/ˈɡloʊbəl ɡlʌt/

Definition

A situation in which there is an excess supply of goods or resources that surpasses the demand in the international market.

Examples

After the technological boom, the computer market faced a global-glut that drove prices down.
The global-glut of oil has affected prices and revenues for many countries reliant on petroleum exports.
During the global-glut in housing, many real estate prices fell significantly.

Meaning

The term ‘global-glut’ refers to a condition where the production of certain goods outstrips the demand for them worldwide, leading to lower prices and potentially widespread economic implications.