What is the balance of trade imports and exports?

When a country trades with other nations, it exports goods (sells) or imports goods (buys). Balance of trade (BOT) is only the difference between the two. If a country exports greater than it imports, then it will have a trade surplus.

If it imports greater than it exports, then it will have a trade deficit. The balance is significant to the economy, influencing jobs, currency value, and economic growth.