Explain what is trade deficit.
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trade deficit is the amount by which the cost of a country's imports exceeds the value of its exports.
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A trade deficit occurs when a country's imports exceed its exports during a given time period. It is also referred to as a negative balance of trade (BOT).
The balance can be calculated on different categories of transactions: goods , services, goods and services. Balances are also calculated for international transactions—current account, capital account, and financial account.
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