Question

The difference between export and import is called

Answer 1

Answer:

The difference between exports and imports is called the balance of trade. If imports 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

Explanation: Import : It means bringing (goods or services) into a country from abroad for sale

Export: It means sending (goods or services) to another country for sale

Put simply, an import is something which is brought into a country over an international boundary, while an export is something which is shipped out of a country over an international boundary

Answer 2

Balance of trade

Explanation:

Balance of trade -

Balance of trade is also known as net export , commercial balance .

It refers to the difference between the monetary value from the export to that of import , is referred to as balance of trade .

It helps to determine the flow of export and import .

• If the country export more than import , then it shows positive trade balance or trade surplus .

Similarly ,

• If the country import more than export , then it shows negative trade balance or trade deficit .

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