Difference between revisions of "Balance of trade"
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The '''balance of trade''' is that part of a nation's [[balance of payments]] dealing with [[import]]s and [[export]]s—that is, trade in goods and services—over a given period. If exports of goods exceed imports, the trade balance is said to be "favorable"; if imports exceed exports, the trade balance is said to be "unfavorable." | The '''balance of trade''' is that part of a nation's [[balance of payments]] dealing with [[import]]s and [[export]]s—that is, trade in goods and services—over a given period. If exports of goods exceed imports, the trade balance is said to be "favorable"; if imports exceed exports, the trade balance is said to be "unfavorable." | ||
| + | A '''trade deficit''' is the amount by which a country's merchandise [[exports]] exceed its merchandise [[imports]]. It does not include "hidden exports" such as financial deals. | ||
| + | |||
| + | [[File:Trade-deficit.jpg|thumb|500px]] | ||
==Sources== | ==Sources== | ||
| − | http://usinfo.state.gov/products/pubs/oecon/chap12.htm | + | * http://usinfo.state.gov/products/pubs/oecon/chap12.htm |
| + | * http://crushliberalism.blogspot.com/2007/01/debunking-trade-deficit-myth.html | ||
[[Category:Economics]] | [[Category:Economics]] | ||
| + | [[Category:Business]] | ||
Revision as of 22:55, February 3, 2017
The balance of trade is that part of a nation's balance of payments dealing with imports and exports—that is, trade in goods and services—over a given period. If exports of goods exceed imports, the trade balance is said to be "favorable"; if imports exceed exports, the trade balance is said to be "unfavorable."
A trade deficit is the amount by which a country's merchandise exports exceed its merchandise imports. It does not include "hidden exports" such as financial deals.
