Question

What is balance of trade​

Answer 1

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. Balance of trade is the largest component of a country's balance of payments (BOP). Sometimes the balance of trade between a country's goods and the balance of trade between its services are distinguished as two separate figures. The balance of trade is also referred to as the trade balance, the international trade balance, commercial balance, or the net exports.

Hope this answer was helpful to you

Answer 2

Answer:

Balance of trade, the difference in value over a period of time between a country's imports and exports of goods and services, usually expressed in the unit of currency of a particular country or economic union (e.g., dollars for the United States, pounds sterling for the United Kingdom, or euros for the European Union ...