Balance of trade

The balance of trade is the difference between the monetary value of exports
and imports of output in an economy over a certain period. It is the relationship between a nation's imports and exports.

A positive balance is known as a trade surplus if it consists of exporting more than is imported; a negative balance is referred to as a trade deficit or, informally, a trade gap. The balance of trade is sometimes divided into a goods and a services balance.

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