Exports in excess of imports result in trade _______.

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SSC GD Constable (2022) Official Paper (Held On : 09 Feb 2023 Shift 2)
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  1. surplus
  2. deficit
  3. zero budget
  4. liability

Answer (Detailed Solution Below)

Option 1 : surplus
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Detailed Solution

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The correct answer is surplus.

Key Points

  • When a country exports more than it imports, it generates a surplus, which means it has more foreign currency to spend than its trading partners.
  • It occurs due to a high demand for goods from a certain country in the global market.
  • A trade surplus also implies that the country has a net inflow of its local currency from the outside market.
  • A trade surplus can create employment and economic growth, but may also lead to higher prices and interest rates within an economy as well as a more expensive currency.

Additional Information

  • A deficit is the opposite of a surplus.
    • It occurs when a country imports more than it exports, which means it has to borrow money from its trading partners to pay for the difference.
    • This can lead to a decrease in the country's wealth and economic growth.
  • A zero budget means that the total amount of money spent by the government is equal to the total amount of money received.
    • This has nothing to do with trade surplus or deficit.
  • Liability refers to the amount of money that a company or a country owes to others.

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