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the total export was 1 500 000 and the total import was 2 250 000 .. Calculate the balance of trade?​

User Gngolakia
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1 Answer

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6 votes

Answer:

-750,000

Step-by-step explanation:

The export is generally the profit, or the amount gained from selling (either a service or a product). The import is the loss, as you pay for the commodity or service.

In this case:

Total import: 2 250 000

Total export: 1 500 000

2 250 000 - 1 500 000 = 750 000

The balance of trade is: -750,000 (or a loss of 750k).

~

User BlackjacketMack
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