If the value of imports for the current year is $3 billion and the value of exports is $8 billion, what effect will this have on the country’s trade balance?

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asked Dec 22, 2020 72.1k views

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Ujjwal Wadhawan · Answer 1 · 2020-12-27T19:41:27+0000

Trade balance is calculated by subtracting imports from exports. In this case, exports are higher than imports which means we have a favorable trade balance. If imports were more than exports, you would have a negative trade balance.

If the value of imports for the current year is $3 billion and the value of exports is $8 billion, what effect will this have on the country’s trade balance?

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