The merchandise trade balance of the balance of payments is the accounting record of all economic transactions between a nation's residents and non-residents over a specified time period (usually one year).

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The merchandise trade balance, part of the balance of payments, specifically records the difference between a nation's exports and imports of goods, not all economic transactions. The broader balance of payments includes other transactions such as services, primary income, and secondary income.

The Merchandise Trade Balance of the Balance of Payments Is