http://www.flickr.com/photos/amagill/3366720659/

http://www.flickr.com/photos/amagill/3366720659/

is the buying and selling of goods

between countries of the World.

Imports are the goods that countries buy from others.

http://www.worldmapper.org/display.php?selected=90

Exports are the goods that countries sell to others.

http://www.worldmapper.org/images/largepng/89.png

http://www.flickr.com/photos/amagill/3366720659/

is the difference between the exports

and imports of a country.

When the imports of a country are

greater than its exports.

http://www.flickr.com/photos/articnomad/8806988/

When the exports of a country are greater

than its imports.

http://www.flickr.com/photos/amagill/3367543296/

Country Export Import Surplus or deficit?

A $100bn $120bn

B $25bn $20bn

C $15bn $14bn

D $3bn $3bn

•The country doesn’t have to take out loans to fund public projects and services.

•The country can invest in infrastructure and services.

•These improvements will help improve the quality of life in the country.

•The country can help industry develop and maintain it’s competitiveness, through grants and subsidies.

There are a number of advantages to having a trade surplus

http://www.flickr.com/photos/hmtreasury/4720955639/in/set-72157624207966917/

http://www.flickr.com/photos/amagill/3367543296/

http://www.flickr.com/photos/amagill/3367543296/

is the buying and selling of good

between countries without import taxes, quotas or

subsidies. It is a level playing field.

http://www.flickr.com/photos/amagill/3367543296/

is when a country seeks to protect its

own industry by placing restrictions

on the goods of foreign countries,

using import taxes, quotas and subsidies.

Pattern?http://www.worldmapper.org/display.php?selected=349

Pattern? Issue?http://www.worldmapper.org/display.php?selected=348