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In 2010, the country of Vesey exported goods worth $312 billion and services worth $198 billion. It imported goods worth $525 billion and services worth $255 billion. It sent $1.2 billion in famine relief to Africa, and received $3 billion to support its first democratic election efforts. What was the merchandise trade deficit in Vesey in 2010?

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sguido26

Answer:

Trade balance of a country is given by the difference between its exports and imports. If Exports of a country exceed its imports then we have a trade surplus. If Imports are more than its exports then we have a trade deficit.

Trade Balance

Since the difference is positive we have a trade surplus of $8.

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