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What is meant by Balance of trade
Balance of trade (BOT) is the difference between the value of a country’s exports and the value of a country’s imports for a given period.
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.
CATEGORIES Economics
TAGS Dr. Bbosa Science