What do you mean by trade deficit, trade surplus and trade balance?
Answers
Answer:
Explanation:
A country that imports more goods and services than it exports in terms of value has a trade deficit
A country that exports more goods and services than it imports has a trade surplus
Balance of trade (BOT) is the difference between the value of a country's exports and the value of a country's imports for a given period
Answer:
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Explanation:
A trade deficit occurs when a country's imports exceed its exports during a given time period. It is also referred to as a negative balance of trade (BOT). ... Balances are also calculated for international transactions—current account, capital account, and financial account.
A country that imports more goods and services than it exports in terms of value has a trade deficit while a country that exports more goods and services than it imports has a trade surplus.
A trade surplus is a positive net balance of trade, and a trade deficit is a negative net balance of trade.