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_______ is the difference between value of goods sold to the rest of the world and value of goods imported from rest of the world. |
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Answer» Balance of payment The balance of trade is the DIFFERENCE between the value of a country's imports and EXPORTS for a given period. The balance of trade is the LARGEST component of a country's balance of payments. Economists use the BOT to MEASURE the relative strength of a country's economy. The balance of trade is ALSO referred to as the trade balance or the international trade balance. |
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