One of the most elusive terms in fragrance terminology appears to be "resinous" and "balsamic", as relating to perfumes. The raw materials falling under the umbrella of resins and balsams are among the most ancient components of perfumes, often the basis of the Oriental family of scents and lending their soothing opulence and depth to other families.
Simply put, resinous materials come in the form of solidified, gum-like "tears" seeping from the elixir vitae circulating into the bark of big trees, such as the Boswellia Carteri (which produces frankincense). Balsams on the other hand are trickly materials, not necessarily tree secretions, often coming as they do from flower pods or bushy twigs.