Question

If India exports goods worth ₹20 crores and imports goods worth ₹30 crores, it will have a ______

विकल्प

• Surplus of ₹10 crores in balance of trade 

• Deficit of ₹10 crores in balance of trade

• Deficit of ₹50 crores in balance of trade 

• None of these

Answer 1

Deficit of ₹10 crores in balance of trade

Explanation:

The term "balance of trade" refers to the difference between a country's products exports and imports. Only visible items are included in the balance of trade. The difference between the value of merchandise (goods) exported and imported is known as the trade deficit. Balance of Trade = Export of visible goods - Import of visible goods. Exports of commodities worth ₹20 crore are less than imports of goods worth ₹30 crore in this country. As a result, the balance of trade has a deficit of ten crores.