What's it: Trade balance is the difference between the country's export value and its import over a certain period. When exports' value exceeds imports, the country runs a positive trade balance (trade surplus). Meanwhile, if the value of
Trade Balance
Exports: Importance, Types, Influencing Factors
What's it: Export means sending domestic goods and services to foreign markets for sale. As compensation, we get foreign currency as payment, say US dollars. Thus, exports do not only have implications for the demand for domestic output. But, it
Import: Types, Influencing Factors, Impacts
What's it: Import means purchasing goods and services from abroad. For example, Japanese car manufacturers ship and sell their products to the United States market. So, from an American perspective, they are importing cars. Meanwhile, car