Economics as a science emerged in the 18th century following the publication of Adam Smith’s The Wealth of Nations. However, economic activity began much earlier. Ancient civilisations already used effective methods to meet their needs and obtain scarce goods. In the absence of money, economic exchanges such as bartering were used. From the Middle Ages to the present day, the economy has evolved at a dizzying pace.
In a world as globalised and digitised as ours, where speed is essential, the economy and the market are breaking down national borders with the aim of communicating accurately and precisely to do business. To this end, economic translation is key to ensuring that the information presented is accurate, consistent and tailored to current needs. In this article, you will find everything you need to know about economic translation.
Economic translation and subspecialties
We will begin by differentiating concepts. Although economic translation may sometimes overlap with legal translation, they are two different specialisations in translation. Economic translation, as its name suggests, deals with texts related to the field of economics.
For many translation professionals, defining this speciality can be rather difficult, and they prefer to approach it from the perspective of its three sub-specialities: economic, financial and commercial translation.
It is important to bear in mind that economic texts deal with economic issues (excluding finance and trade) and focus primarily on aspects related to macroeconomics and microeconomics. Financial texts include, for example, articles published in the financial press, but also share purchase agreements, shareholder information, investor information, documents related to finance or the stock market, etc. Commercial texts are those found in quotations, invoices, marketing and advertising.
Although financial and commercial texts fall within the field of economics, these three types have very different characteristics.
Economic texts
Economic texts in both English and Spanish are characterised by the typical elements of specialised languages.
- The message is precise and technical.
- The use of passive voice and coordinating and subordinating conjunctions.
- The target audience is specialised.
Financial texts
In financial texts, English predominates over other languages. In this type of text, the aim is to ensure that the message being conveyed is understood by everyone. For this reason, a more natural language is used, along with humour and metaphors, so as to humanise the message.
These characteristics differ from those of financial Spanish, which is characterised by a much more professional and less casual language. However, in financial texts in Spanish, it is also common to find features such as more general terms, explanatory phrases, typographical resources such as bold and italics, and the use of metaphors, among many others.
Commercial texts
Commercial texts are characterised by specialised language, such as very long noun phrases, which give greater emphasis to the noun with the help of modifiers; simple, juxtaposed and coordinated sentences; and clarity and conciseness to avoid ambiguity.
However, although these are very similar to specialised texts, commercial texts sometimes present aspects of natural language, such as sentences with complex syntax and very long periods, the use of adjectives and metaphors, among others.
Translation challenges
Economic translation is a constantly changing speciality, generating challenges for professionals. When translating an economic text, it is not only necessary to have a broad understanding of economics, but also to take into account aspects such as calques, borrowing words, neologisms, and metaphors.
In short
The search for market expansion beyond national borders makes communication more necessary than ever, and, as a result, the role of economic translation has gained importance in society. Economic translation can be found in different fields, from macroeconomics and legal aspects to commerce and advertising. The constant change of the economy in such a globalised and digitalised world means that professionals must keep up to date with the latest developments. Not only must they be familiar with economic terms, but they must also be able to navigate the creative realm when it comes to neologisms and metaphors.
At Lingua Int, we rely on professionals who are committed to their training and who specialise in the fields of economics, finance, and commerce. Therefore, we provide translation services that can help you overcome the language barriers that stand between you and specialised texts.
If you have a translation project in mind, please do not hesitate to contact us by email or through our LinkedIn, X, Instagram o Facebook accounts.
