Understanding Balance of Trade (BOT): [PDF Inside] Definition, Formula, Importance, Pros and Cons, BOT Deficit, and Interpretation of BOT
The balance of trade, often referred to simply as the “trade balance,” is a measure that indicates the difference between the value of a country’s exports (goods and services sold to other countries) and the value of its imports (goods and services bought from other countries) during a specific period, typically a year.
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