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Balance of trade is the difference between the monetary value of a nation's exports and imports of goods over a certain time period. [1] Sometimes services are also considered but the official IMF definition only considers goods. The balance of trade measures a flow variable of exports and imports over a given period of time. The notion of the ...
Measures to promote a trade surplus (such as tariffs) were generally favored. The prevailing orthodoxy of the mercantilist age was the (now discredited) notion that the accumulation of foreign exchange or, at that time, precious metals, made countries wealthier, and so countries favored exporting their own goods to run balance of payments ...
Since the trade balance (exports minus imports) is generally the biggest determinant of the current account surplus or deficit, the current account balance often displays a cyclical trend. During a strong economic expansion, import volumes typically surge; if exports are unable to grow at the same rate, the current account deficit will widen.
Over the long run, nations with trade surpluses tend also to have a savings surplus. The U.S. generally has developed lower savings rates than its trading partners, which have tended to have trade surpluses. Germany, France, Japan, and Canada have maintained higher savings rates than the U.S. over the long run. [2]
The EU’s trade surplus with the U.S. rose to a record high of €43.6 billion ($47.3 billion) in the first quarter of 2024, official data shows. The 27% jump from the same period last year ...
This is a list of countries by net goods exports, also known as balance of trade, which is the difference between the monetary value of a nation's exports and imports over a certain time period. [1] The list includes sovereign states and self-governing dependent territories based upon the ISO standard ISO 3166-1 .
China is not seeking a trade surplus and is willing to import more competitive and high-quality products and services to balance trade, Ding Xuexiang, the country's vice premier, said on Tuesday.
The UK reports it is in a trade surplus with the US, meaning that exports are bigger than imports. Meanwhile, the US reports the trade surplus is reversed; this discrepancy is largely due to ...