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Question
What do you mean by Balance of trade?
Solution
Balance of trade denotes the difference between the value of import and the value of export during a year.
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RELATED QUESTIONS
Distinguish between balance of trade and balance on current account?
Foreign capital long-term loan and foreign currency reserve are recorded under ______.
Mention the components of banking capital.
Mention the components of official capital.
What are the credit items shown in currents accounts?
When the import and export of visible items are equal, the situation is known as ______.
When there is a favourable balance of trade?
Read the following statements -Assertion (A) and Reason(R), choose one of the correct alternatives given below:
Assertion (A): Trade of invisible items between two nations is a part of capital account of Balance of Payment
Reason(R): Transactions that affect the asset-liability status of a country in relation to the rest of the world are known as Capital Account transactions.
Suppose, following data is presented, for an imaginary economy:
| Year | Visible Exports | Visible Imports |
| 2010 | 280 | 240 |
| 2020 | 580 | 460 |
Identify, which of the statement about the period 2010 to 2020 is correct?
Assuming that, the following data is given for an imaginary economy:
| Year → | 2020 (₹ in Cr.) |
2021 (₹ in Cr.) |
| Items ↓ | ||
| Exports of visibles | 1,000 | 1,100 |
| Imports of visibles | 800 | 850 |
The balance of Trade from 2020 to 2021 ______ by ₹ ______ crore.
