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- The term Balance of Trade (or BOT) is the largest component of a country's current account in its balance of payments (BOP) accounts.
- It shows the difference between export earnings and import expenditure.
- It is called 'favorable' when the amount realized from physical (or tangible or visible) exports is more than the amount spent on physical imports, otherwise called 'unfavorable.'
- It is called also trade balance.
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