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Answer 1

Explanation:

The balance of trade, commercial balance, or net exports (sometimes symbolized as NX), is the difference between the monetary value of a nation's exports and imports over a certain time period.[1] Sometimes a distinction is made between a balance of trade for goods versus one for services. The balance of trade measures a flow of exports and imports over a given period of time. The notion of the balance of trade does not mean that exports and imports are "in balance" with each other.

Cumulative current account balance 1980–2008 based on International Monetary Fund data.

Cumulative current account balance per capita 1980–2008 based on International Monetary Fund data.

If a country exports a greater value than it imports, it has a trade surplus or positive trade balance, and conversely, if a country imports a greater value than it exports, it has a trade deficit or negative trade balance. As of 2016, about 60 out of 200 countries have a trade surplus. The notion that bilateral trade deficits are bad in and of themselves is overwhelmingly rejected by trade experts and economists

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Answer 2

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:=> Balance of trade (BOT) is the difference between the value of a country's imports and exports for a given period and is the largest component of a country's balance of payments (BOP)

:=> Types of Balance of Trade:

•Favourable Balance of Trade: The situation, wherein country's exports exceed imports is a situation of favourable or surplus balance of trade.

•Unfavourable/Deficit Balance of Trade:

•ADVERTISEMENTS: ...

•Equilibrium in Balance of Trade

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