what is balance trade? ln which situation is it favourable or un favourable.
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When exports are larger than imports, it's a trade surplus. Most nations view that as a favorable trade balance. When exports are less than imports, it's a trade deficit. Countries usuallyregard that as an unfavorable trade balance.
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Balance of trade shows the record of exports and imports for a country. Balance of trade can be said to be in a favourable position when the value of exports exceeds the value of imports. An export surplus or a favourable Balance of Trade can be said to be a indication of the development of a country.
During the British rule, there is said to be artificial Balance of Trade in the sense that while India enjoyed a favourable Balance of Trade, it was attained on account of export of primary goods rather than capital goods. Thus, such an export surplus did not indicate the development of India. I hope the answer was helpful If it was please mark it as brainlist ❤️
During the British rule, there is said to be artificial Balance of Trade in the sense that while India enjoyed a favourable Balance of Trade, it was attained on account of export of primary goods rather than capital goods. Thus, such an export surplus did not indicate the development of India. I hope the answer was helpful If it was please mark it as brainlist ❤️
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