Exports
-selling products or services to other countries(1)
-ex. selling wheat to other countries that may not be able to grow it
Imports
-buying products or services from other countries(2)
-ex. buying pinnapples or other fruit that our soils may not be able to grow
Trade Deficit
-imports that are exceeding exports, negative balance(3)
-the value of forien goods are higher than the value of domestic goods(4)
-ex. buying more forien goods than the amount of domestic goods your country sells (more in currency)
Trade Surplus
-exports that are exceeding imports, postive balance; net inflow of currency that comes from forighn areas(5)
-some believe that trade surplus creates jobs, and increased GDP, while others say it has little impact
-can result in higher prices, and intrest rates(6)
-selling products or services to other countries(1)
-ex. selling wheat to other countries that may not be able to grow it
Imports
-buying products or services from other countries(2)
-ex. buying pinnapples or other fruit that our soils may not be able to grow
Trade Deficit
-imports that are exceeding exports, negative balance(3)
-the value of forien goods are higher than the value of domestic goods(4)
-ex. buying more forien goods than the amount of domestic goods your country sells (more in currency)
Trade Surplus
-exports that are exceeding imports, postive balance; net inflow of currency that comes from forighn areas(5)
-some believe that trade surplus creates jobs, and increased GDP, while others say it has little impact
-can result in higher prices, and intrest rates(6)
1."The Free Dictionary; Exports", last accessed April 15/2012, http://www.thefreedictionary.com/export.
2."The Free Dictionary; Imports", last accessed April 15/2012, http://www.thefreedictionary.com/import.
3."Trade Deficit", last accessed April 15/2012, http://www.investopedia.com/terms/t/trade_deficit.asp#axzz1sAb4pCsl.
4."Trade Deficit", last accessed April 15/2012, http://useconomy.about.com/od/glossary/g/Trade_Deficit.htm.
5."Trade Surplus", last accessed April 15/2012, http://www.investopedia.com/terms/t/trade-surplus.asp#axzz1sAb4pCsl.
6."The Free Dictionary; Trade Surplus", last accessed April 15/2012,http://financial-dictionary.thefreedictionary.com/Trade+Surplus.