Principles of Macroeconomics / Unit 7 MAC 0601 short lesson, about 20 seconds
The Trade Balance
Captions available
The idea
The merchandise trade balance counts goods alone. It is the figure most often reported, though services are more than half of output in rich economies.
In practice
Exports minus imports, for goods that cross a border in a container.
Where people slip
Reporting goods alone can make a country look worse at trade than it is, if it sells services abroad.
Your place on the trail
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