What is the complexity of translation of economic texts, documents, and terms?

Nowadays, English is a common way of communication, that is, an international language. The whole world strives to communicate in the same language. It is a global language, as it can convey a large amount of information in various fields of activity.

Translation of economic articles

In turn, translation of economic texts is becoming very popular, due to the very intensive development of international trade and banking system. An ordinary translator will undoubtedly be able to translate a text of economic content, but its meaning may be distorted due to insufficient knowledge in economics. When translating economic documentation, they may encounter customs, banking and tax documents, and only an economist can understand this information. In other words, a translator must have knowledge not only of the language itself, but also of the economics.

Peculiarities of translation of economic terms

If we take the translation of economic texts, its peculiarity is to provide a more accurate translation, while taking into account all the differences that may exist in different realities of the economic sphere. The best translation of economic articles can be performed only if a translator can choose the most accurate terms. The complexity of this work lies in the fact that most of the economic terms in our language appeared not so long ago or they were borrowed from the English language. Accordingly, the concepts that these terms imply and their economic translation are absent or at the stage of formation under the influence of Russian economic realities.

In general, economic texts can be diverse in terms of:

• styles;
• genres;
• functions.

Translation of economic documents

Also, the translator of economic texts and terms should take into account that such texts can be very informative and contain a lot of terms. The information content of these texts may not always be consistent, since the economic language has a large number of phraseological units and metaphors. In this case, the following can help a translator:

1. Accuracy – all information originally contained in the original text must be reflected in the financial and economic translation.
2. Clarity - the material should be presented briefly, and this should not interfere with the understanding of the information contained in it.
3. Brevity – the text should be presented in a concise form.
4. Expressiveness – the use of emotional vocabulary can serve as the main tool for influencing the reader's consciousness.

Various difficulties and peculiarities in translating economic texts can create economic terms that consist of two or more words. At the same time, such words separately mean simple concepts and are in everyday use of colloquial speech and do not create any difficulties in ordinary translation.

An economic translator may encounter a huge number of business names and abbreviations while working. The following translation methods can help them to do this:

1. Translation of a phrase or word that is the main one in this abbreviation.
2. Transliteration.
3. Use of equivalent words in target language.

The following techniques can be used to translate the names of organizations:

1. Literal translation.
2. Transliteration.

In the course of translations of economic texts, various stable expressions can very often come across. Their form is fixed, even if it is possible to replace it without losing meaning. These include speech phraseological phrases, cliches, and idiomatic expressions. Their economic translation is a selection of similar expressions in the translated language.

When translating words, it may be difficult to use non-equivalent vocabulary, these are words or phrases that may mean real life and may not have an equivalent in translation at the moment. There are such ways to translate this vocabulary:

1. Selection of a similar word combination or word in the target language.
2. Transliteration.
3. Descriptive translation.

As an example, the phrase "mission creep" has no equivalent in Russian language and its main meaning is "performing by people or organizations of functions that are not typical for them". It can be translated as "distraction to secondary tasks" or "departure from the main direction".

As a result, it can be noted that the main difficulty of translating an economic text is that the translator must have a broad outlook in the field of economics, which means not only understanding the various economic terms and their translation, but also a general understanding of the main economic realities and laws. Its main task is to convey the meaning of the original text to the readers in the most accurate and complete way.

Therefore, if there are problems related to the translation of texts, documents and terms, the translator of economic terms needs to use various economic reference books and dictionaries on economics, and if possible, ask for help for specialists in this field. The quality of economic translation and its cost are also affected by the level of knowledge and qualifications of a translator.