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
Imports: Determinants, Benefits, Drawbacks, Impact on Global Trade
What's it: Import means purchasing goods and services from international trade partners. For example, Japanese car manufacturers ship and sell their products to the United States market. So, from an American perspective, they are importing cars.