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Prepare a suitable diagram showing balance of trade from the following data. Year-1994,1995,1996,1997,1998,1999 export-24,115,84,110,130,162 import-9,92,92,120,183,187

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter18: International Trade And Finance

Section: Chapter Questions

Problem 11SQ

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Prepare a suitable diagram showing balance of trade from the following data. Year-1994,1995,1996,1997,1998,1999 export-24,115,84,110,130,162 import-9,92,92,120,183,187

Definition Definition Difference in value of a country's net exports and net imports for goods and services in a given period. A positive balance of trade is called a surplus and coincides with more net cash inflows into a country; a negative balance of trade deficit is a deficit and results in net cash outflows. A balance of trade surplus or deficit doesn't necessarily indicate a positive or negative situation for a country.

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