Practicing Success
If the value of imports is more than the value of a country’s exports, country's balance of trade will be |
Negative balance of trade Unfavourable balance of trade Positive balance of trade Both 1 and 2 |
Both 1 and 2 |
Balance of trade records the volume of goods and services imported as well as exported by a country to other countries. If the value of imports is more than the value of a country’s exports, the country has negative or unfavourable balance of trade. |