A Country can have an increased surplus in its balance of trade as a result of declining imports and rising exports.
What is balance of trade?
Balance of trade refers to the difference in value over a period of time between a country's imports and exports of goods and services, usually expressed in the unit.
It is to be noted that balance of trade could be favourable or unfavourable.
Hence, a Country can have an increased surplus in its balance of trade as a result of declining imports and rising exports.
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