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What ia a balance of trade?

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What ia a balance of trade?

Posted by Arun Singh 5 years, 11 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 5 years, 11 months ago

The Balance of Trade of a country is the difference between its export and import.
In following situations, it is favourable and unfavourable
(i) When the value of export exceeds the value of imports, it is called a favourable balance of trade.
(ii) On the contrary, if the value of imports exceeds the value of exports, it is termed as unfavourable balance of trade.

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