ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A trade deficit occurs when a country’s imports exceed its exports during a given time period. It is also referred to as a negative balance of trade (BOT).

Detailed explanation-2: -If exports exceed imports then the country has a trade surplus and the trade balance is said to be positive. If imports exceed exports, the country or area has a trade deficit and its trade balance is said to be negative.

Detailed explanation-3: -Trade Deficit=Value of Imports-Value of Exports It includes various goods and services exported and imported by the government, like machinery, cars, consumer goods.

Detailed explanation-4: -1 min read . Updated: 16 Jan 2023, 04:00 PM IST Livemint. Despite global headwinds, India’s exports have held its head high, Commerce Secretary Sunil Barthwal has said.

Detailed explanation-5: -A trade deficit occurs when a nation imports more than it exports. For instance, in 2018 the United States exported $2.500 trillion in goods and services while it imported $3.121 trillion, leaving a trade deficit of $621 billion.