When the value of exports exceeds the value of imports, it is called favourable balance of trades. How???
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The balance of trade is the value of a country's exports minus its importsExports are goods or services made domestically and sold to a foreigner.
That includes a pair of jeans you mail to a friend overseas. It could also be signage a corporate headquarter transfers to its foreign office. If the foreigner pays for it, then it's an export.
That includes a pair of jeans you mail to a friend overseas. It could also be signage a corporate headquarter transfers to its foreign office. If the foreigner pays for it, then it's an export.
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favourable trade means trade that is profitable or successful.
If export is more then the country will have more money. If we import the things we can buy it from money that came from exporting. Hence we will have some money left that can be used later. So it is successful. And this trade is known as favourable trade.
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If export is more then the country will have more money. If we import the things we can buy it from money that came from exporting. Hence we will have some money left that can be used later. So it is successful. And this trade is known as favourable trade.
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