Question

The difference between a nation's import of goods and services and its export of them is known as

Answer 1

Heya....

The difference between a nation's import and export of goods and services is known as.... TRADE BALANCE....

@@ If the difference is positive then it is trade surplus...

@@ If the difference is negative then it is trade deficit...

Answer 2

The difference between exports andimports is called the balance of trade. Ifimports are greater than exports, it is sometimes called an unfavourable balance of trade. If exports exceed imports, it is sometimes called a favourable balance of trade. ... The balance of trade thus forms a part of the balance of payments.