If the value of imports for the current year is $3 billion and the value of exports is $8 billion, what effect will this have on the country's trade balance?

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Business

Lauren Cooper

30 June, 05:46

If the value of imports for the current year is $3 billion and the value of exports is $8 billion, what effect will this have on the country's trade balance?

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Gracie Bridges · Answer 1

May imports were $223.5 billion, $3.4 billion more than April imports. The May increase in the goods and services deficit reflected an increase in the goods deficit of $3.7 billion to $62.2 billion and a decrease in the services surplus of $0.1 billion to $21.1 billion.