What is balance of trade?
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matty
Apprentice
Joined: 30 Apr 2006
Posts: 5
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 Posted: 06/02/08 - 10:51 Post subject: |
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| A colleague was talking about the balance of trade just today. This is a term I have certainly come across before, however I have no idea what it means. If you could point me in the right direction on that one, that would be wonderful. I really need to find out and think this is one of the quickest ways to do so. |
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rois
Apprentice
Joined: 31 Dec 2006
Posts: 6
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| Posted: 07/01/08 - 22:31 Post subject: |
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| Basically all that balance of trade refers to is the difference between the total value of exports and imports in a given country. If the balance is positive, there is a trade surplus and if it is negative there is of course a deficit. Views on whether deficits are bad for the economy or not vary greatly, and there are many theories. |
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