What Is the Balance of Trade?
It is what a country sells abroad minus what it buys from abroad.
Video coming soon. The lesson video will appear here once it is published on YouTube.
Check yourself: sample questions
Think about each question, pick what you would answer if you like, then select “Show answer” to see the solution and why. Nothing is graded or sent to us. Example numbers are worked examples, not predictions.
1.What is the balance of trade?
It is what a country sells abroad minus what it buys from abroad.
2.What is a trade deficit?
A trade surplus means a country exported more than it imported in that period.
3.Northland exports 50 billion of goods and imports 60 billion. What is the goods balance?
The goods balance counts only physical goods; services get their own line.
Full course: 5 more questions for this lesson
The full course unlocks all self-check questions of all 365 lessons, the daily plan, your progress and the printable learning record. Lessons 1 to 7 are completely free.
See the full course Start the free week
Already bought? Open the course on this device
Sources (3)
- U.S. Census Bureau: Foreign Trade, Definitions
- U.S. Bureau of Economic Analysis: U.S. International Trade in Goods and Services (August 2026)
- Eigene Berechnung (erfundenes Land, runde Uebungszahlen)
Education only. Not financial advice.