Question

types of trade and balance of trade difference​

Answer 1

Answer:

Answer:balance of payments. Includes only visible imports and exports, i.e. imports and exports of merchandise. 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.

Answer 2

When the value of imports is more than the value of exports, it is called 'unfavorable balance of trade'. When the value of exports is more than the value of imports, it is called 'favourable balance of trade'. When the value of exports and imports is almost the same, it is called 'balanced balance of trade'.