Enhance Your Learning with Economics - Trade Surpluses and Deficits Flash Cards for quick understanding
A situation in which a country's exports exceed its imports, resulting in a positive balance of trade.
A situation in which a country's imports exceed its exports, resulting in a negative balance of trade.
A record of all economic transactions between the residents of a country and the rest of the world over a given period of time.
The part of the balance of payments that records a country's transactions in goods, services, and income with the rest of the world.
The part of the balance of payments that records a country's transactions in financial assets and liabilities with the rest of the world.
A set of rules and regulations that govern a country's international trade, including tariffs, quotas, and subsidies.
The use of trade barriers, such as tariffs and quotas, to protect domestic industries from foreign competition.
The ability of a country to produce a good or service at a lower opportunity cost than other countries.
The price of one currency in terms of another currency, determining the value of imports and exports.
China has consistently maintained a trade surplus due to its large manufacturing sector and export-oriented economy.
The United States has experienced persistent trade deficits, primarily due to its high consumption and reliance on imports.
An economic theory that promotes trade surpluses as a means of increasing a country's wealth and power.
Trade policies that seek to improve a country's trade position at the expense of other countries, often leading to trade conflicts.
Unequal trade flows between countries, resulting in trade surpluses for some and trade deficits for others.
A series of retaliatory trade actions between countries, often triggered by trade imbalances and protectionist measures.
Investment made by a company or individual in one country into business interests located in another country.
Bilateral or multilateral agreements between countries to reduce trade barriers and promote economic cooperation.
Germany has consistently maintained trade surpluses, driven by its strong manufacturing sector and export-oriented economy.
India has experienced trade deficits due to its high import dependence for energy and capital goods.
Japan has historically had trade surpluses, driven by its advanced technology and strong manufacturing sector.
Australia has experienced trade deficits due to its reliance on imports for consumer goods and capital equipment.
Saudi Arabia has consistently maintained trade surpluses due to its large oil exports and limited imports.
Brazil has experienced trade deficits due to its reliance on imports for machinery, electronics, and consumer goods.
South Korea has consistently maintained trade surpluses, driven by its strong manufacturing sector and export-oriented economy.
Canada has experienced trade deficits due to its reliance on imports for consumer goods and machinery.
Taiwan has consistently maintained trade surpluses, driven by its advanced technology and strong manufacturing sector.
Mexico has experienced trade deficits due to its reliance on imports for machinery, electronics, and consumer goods.
Singapore has consistently maintained trade surpluses, driven by its strategic location and strong financial services sector.
South Africa has experienced trade deficits due to its reliance on imports for machinery, vehicles, and petroleum products.
Netherlands has consistently maintained trade surpluses, driven by its strong manufacturing sector and strategic location.
Russia has experienced trade deficits due to its reliance on imports for machinery, electronics, and consumer goods.
Switzerland has consistently maintained trade surpluses, driven by its strong financial services sector and high-quality exports.
Argentina has experienced trade deficits due to its reliance on imports for machinery, electronics, and consumer goods.
Sweden has consistently maintained trade surpluses, driven by its strong manufacturing sector and high-quality exports.
Turkey has experienced trade deficits due to its reliance on imports for energy, machinery, and consumer goods.
Norway has consistently maintained trade surpluses, driven by its oil exports and high-quality seafood.
Indonesia has experienced trade deficits due to its reliance on imports for machinery, electronics, and consumer goods.
Malaysia has consistently maintained trade surpluses, driven by its strong manufacturing sector and export-oriented economy.
Thailand has experienced trade deficits due to its reliance on imports for machinery, electronics, and consumer goods.
Vietnam has consistently maintained trade surpluses, driven by its strong manufacturing sector and export-oriented economy.
Nigeria has experienced trade deficits due to its reliance on imports for machinery, electronics, and consumer goods.
United Arab Emirates has consistently maintained trade surpluses, driven by its oil exports and limited imports.
United Kingdom has experienced trade deficits due to its reliance on imports for consumer goods and machinery.
India has consistently maintained trade surpluses in services, driven by its IT and business process outsourcing industries.
China has experienced trade deficits in services due to its high import dependence for tourism and intellectual property.
United States has consistently maintained trade surpluses in services, driven by its strong financial and technology sectors.
Germany has experienced trade deficits in services due to its high import dependence for tourism and intellectual property.
South Korea has experienced trade deficits in services due to its high import dependence for tourism and intellectual property.
Australia has consistently maintained trade surpluses in services, driven by its strong education and tourism sectors.
Netherlands has experienced trade deficits in services due to its high import dependence for tourism and intellectual property.
Sweden has experienced trade deficits in services due to its high import dependence for tourism and intellectual property.
Malaysia has experienced trade deficits in services due to its high import dependence for tourism and intellectual property.
United Arab Emirates has experienced trade deficits in services due to its high import dependence for tourism and intellectual property.