ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Balance of trade (BOT) is the difference between the value of a country’s imports and exports for a given period and is the largest component of a country’s balance of payments (BOP).

Detailed explanation-2: -The visible trade balance (merchandise trade balance) is that part of the balance of trade figures that refers to international trade in physical goods, but not trade in services; it thus contrasts with the invisible balance. The balance is calculated as the value of visible exports less the value of visible imports.

Detailed explanation-3: -The difference between the exports and imports is the trade balance.

Detailed explanation-4: -Definitions of visible balance. the difference in value over a period of time of a country’s imports and exports of merchandise. synonyms: balance of trade, trade balance, trade gap. type of: balance.