[[1]] is the difference between export and import.

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!

An Intiative by Sri Chaitanya

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Detailed Solution

Balance of trade is the value difference between a country's imports and exports at a specific time.
A favourable balance of trade exists when the value of exports is greater than the value of imports. When the value of imports is greater than the value of exports, then the balance of trade is unfavourable. International Trade refers to trading between two countries. It could take place via water, air, or land. No nation can thrive without international trade since the resources are few and confined to space. A country's advancement in international trade is an indication of economic prosperity. As a result, it got regarded as a country's economic barometer.

Watch 3-min video & get full concept clarity

tricks from toppers of Infinity Learn

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET

🔥 Start Your JEE/NEET Prep at Just ₹1999 / month - Limited Offer! Check Now!

Get Expert Academic Guidance – Connect with a Counselor Today!

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET