Final answer:
An overall balanced trade for a country does not necessarily mean that trade is balanced with each trading partner. Countries can have trade surpluses with some nations and trade deficits with others, which would offset in the aggregate balance of trade.
Step-by-step explanation:
The question is asking whether a country's overall balance of trade, which is balanced when the total exports equal total imports, means that the country also has balanced trade with each individual trading partner. The answer to this is no. A country having an overall balanced trade does not imply that trade is balanced with each trading partner. For instance, the United States had a relatively low level of trade but faced enormous trade deficits, while Japan, with a similar level of trade, typically showed large trade surpluses. Similarly, other countries like Germany and Sweden might have a trade surplus, while the United Kingdom and Canada might have a trade deficit in the same year.
This demonstrates that even if the overall trade balance is neutral, the trade balance with individual countries can vary greatly. A country might have a surplus with one nation and a deficit with another, which can offset each other in the overall trade balance.