xports and the total value of imports.?Usually includes both goods and services?It is also export (NX)?NX=X-M?A Trade Surplus exists when a country exports more than it imports.РA Trade Deficit exists when a country imports more than it exports.РThe Basics of World TradeРBilateral Trade Balance is the difference between exports and imports between two countries.?The U.S. trade deficit with China was over $200 billion in 2005 and 2006.РWhat are the problems with bilateral trade data??If some of the inputs are imported into the country, then the value-added is less than the value of exports.?Barbie is made with oil from Saudi Arabia, plastic from Taiwan, hair from Japan, and is assembled in China.?Doll is valued at $2 when it leaves China but only 35 cents is value-added from Chinese labor.
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