Question

read the following graph and answer the question : (1) what is balance of trade? (2) tell the types of balance of trades (3) in which country export exceeds important in all the years? (4) brazil's balance of trade belong to which type?​

Answer 1

Answer:

1) Balance of trade is the difference between the value of a country' s exports and the value of country's imports for a given period.

2) The balance of trade are of 3 types

a) Favourable balance/ Surplus

It is the situation in which the country's exports are greater than imports.

b) Equilibrium balance

It is the situation where the country's exports are equal to the imports

c) Balance of Trade deficit

It is the situation where the imports surpasses the total value of the exports in a year.

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

4) Brazil balance of trade belongs to the Surplus/ favourable balance trade category