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2. How is the balance of trade related to exports, imports, trade surpluses, and deficits?

2. How is the balance of trade related to exports, imports, trade surpluses, and deficits?

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For any country or organisation balance between the trade done is very important. It is comparing the results of trade done and calculating the profits. It includes imports and exports and surplus and deficits. The imports that are made and the exports sent must be balancing inorder to maintaina n even ecomy. Surplus and deficit tells us the state of the goods. Hence exports and imports, surplus and deficits determine the balance of trade and are the major deciding factors.

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