MANAGEMENT

Detailed explanation-1: -A country that imports more goods and services than it exports in terms of value has a trade deficit or a negative trade balance. Conversely, a country that exports more goods and services than it imports has a trade surplus or a positive trade balance.

Detailed explanation-2: -Balance of trade (BOT) is the difference between the value of a country’s exports and the value of its imports for a given period.

Detailed explanation-3: -BALANCE OF TRADE: The difference between the value of goods and services exported out of a country and the value of goods and services imported into the country. The balance of trade is the official term for net exports that makes up the balance of payments.

Detailed explanation-4: -The balance of trade is the difference between exports of goods and imports of goods. The balance of payments is the difference between the inflow of foreign exchange and the outflow of foreign exchange. The net effect of the balance of trade is either positive, negative, or zero.

Detailed explanation-5: -If the value of exports exceeds the value of imports, it is said that there is a trade surplus; if imports are greater than exports, the country has a trade deficit.