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Jun 27, 2024 · Balance of trade (BOT) is the difference between the value of a country's exports and the value of a country's imports for a given period. Balance of trade...
- Will Kenton
- 2 min
Jun 13, 2024 · A favorable balance of trade was an essential way of financing a country's purchase of foreign commodities and maintaining its export trade, according to the economic theory of mercantilism, which reigned in Europe from the 16th through the 18th centuries.
According to the economic theory of mercantilism, which prevailed in Europe from the 16th to the 18th century, a favourable balance of trade was a necessary means of financing a country’s purchase of foreign goods and maintaining its export trade.
Mar 26, 2022 · A positive trade balance (surplus) is when exports exceed imports. A negative trade balance (deficit) is when exports are less than imports. Use the balance of trade to compare a country’s economy to its trading partners. A trade surplus is harmful only when the government uses protectionism.
- Kimberly Amadeo
According to the economic theory of mercantilism, which prevailed in Europe from the 16th to the 18th century, a favourable balance of trade was a necessary means of financing a country’s purchase of foreign goods and maintaining its export trade.
Apr 26, 2024 · What is the Balance of Trade? The balance of trade, also referred to as the trade balance, is a crucial economic metric that represents the difference between a country’s exports and imports of goods and services over a specified period.
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Jul 30, 1997 · What's So Favorable About a Favorable Balance of Trade? Hoover fellow Melvyn Krauss explains why there is nothing inherently good about running a trade surplus or inherently bad about running a trade deficit.
