Define the term trade surplus
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Thea amount of value of a countrys export exceeds the cost of its imports...
Shamz52003:
WHEN THW VALUE OF EXPORT EXCEEDS THE VALUE OF IIMPORT ITS KNOWN AS TRADE SURPLUS. FOR EX-U.S.A HAD A TRADE SURPLUS WITH INDIA AS THE AMOUNT OF GOODS IT EXPORTED WAS WAY MORE THAN IT IMPORTED FROM INDIA.
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