What is meant by trade surplus .how trade surplus helped britain?
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When the value of exports is higher than value of imports, it is called as 'Trade Surplus'. (ii) Britain used this surplus to balance its trade deficits with other countries - that is. ... (iv) By helping Britain balance its deficits. India played a crucial role in the late- nineteenth century world economy
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A trade surplus is an economic measure of a positive balance of trade, where a country's exports exceed its imports. Trade Balance = Total Value of Exports - Total Value of Imports
Britain's trade surplus also helped it in paying the so-called home charges which included private remittances to home by British officials and traders, interest payments of India's external debt and business of British officials in India.
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