marzo 2024

A more nuanced approach acknowledges the benefits of specialization, comparative advantage, and the importance of flexibility in response to changing economic conditions. It considers the exports and imports of all goods, services, unilateral transfers and capital accounts. This is how the trade surplus obtained by maximising exports helps in the economic development of the country. […]

Most of the time, people get confused between the terms balance of payments and balance of trade. The balance of trade is calculated by subtracting the total value of import of goods from the total value of export of goods. If we earn more income and still our expenses remain the same or sometimes less,