The records of exports and imports in goods and services and transfer payments is known as
Answers
Balance of Trade, from AmosWEB's Economics Gloss*arama. ... The balance of trade is the official term for net exports that makes up the balance of payments. The balance of trade can be a “favorable” surplus (exports exceed imports) or an “unfavorable” deficit (imports exceed exports).If exports exceed imports, the net exports figure wouldbe positive, indicating that the nation has a trade surplus. ... The receipt of export proceeds also represents a flow of funds into the country, which stimulates consumer spending and contributes to economic growth.To calculate net exports, you simply add up all the goods and services that are exported to other countries from your home country and subtract all the goods and services that are imported from other countries into your country over a specific period of time, typically a year.