Question

i) What is balance of trade?
ii) Tell the types of balance of trades.
iii) In which country export exceeds import in all the years?
v) Brazil's balance of trade belongs to which type?
v) India's balance of trade belong to which type?
vi) What was the exports value in $ of India in the year 2010-2011?​

Answer 1

1. The difference in value between the amount that a country imports and the exports is known as balance of trade.

2. Types of balance of trade ;

• Favourable Balance of Trade

• UnfavourableBalance of Trade

3. Brazil, Exports exceed imports in all the years in Brazil. Brazil is always maintaining a Favourable balance of trade.

4. Favourable Balance of Trade

5. UnfavourableBalance of Trade

6. The exports value in $ of India in the year 2010-2011 was $246 billion.