📯A nation's international trading activity is determined by its imports and exports.
💸Net exports, or trade balance, represent the difference between the value of exports and imports.
🎣A trade surplus occurs when exports exceed imports, indicating that the country is a net exporter.
🇺🇸A trade deficit occurs when imports exceed exports, indicating that the country is a net importer.
💰Balanced trade occurs when the value of exports equals imports.
What is the significance of imports and exports in international trade?
—Imports and exports determine whether a country is primarily a buyer or a seller on the international market.
What is net exports?
—Net exports, also known as trade balance, represent the difference between the value of exports and imports.
What is a trade surplus?
—A trade surplus occurs when a country's exports exceed its imports, indicating that it is a net exporter.
What is a trade deficit?
—A trade deficit occurs when a country's imports exceed its exports, indicating that it is a net importer.
What is balanced trade?
—Balanced trade occurs when the value of exports equals the value of imports.
00:05A nation's international trading activity is determined by its imports and exports.
00:18Net exports, or trade balance, represent the difference between the value of exports and imports.
00:33A trade surplus occurs when exports exceed imports, indicating that the country is a net exporter.
00:44A trade deficit occurs when imports exceed exports, indicating that the country is a net importer.
00:52Balanced trade occurs when the value of exports equals imports.
01:10Trade deficits and surpluses are important indicators of a country's economic health.
01:31The United States runs a trade deficit, but its impact on GDP is limited.
02:14Oil exporting countries may have large trade surpluses fueled by oil sales.
