Armenia had a favorable balance of trade in 2018 when it exported $800 million in goods and services and imported $1.5 billion.

Name: Armenia had a favorable balance of trade in 2018 when it exported $800 million in goods and services and imported $1.5 billion.
Brand: Quizplus
Rating: 4.9 (40 reviews)

Question

Quizplus · Accepted Answer

A favorable balance of trade occurs when a country's exports exceed its imports. In this case, Armenia imported more ($1.5 billion) than it exported ($800 million), indicating an unfavorable balance of trade.

Armenia Had a Favorable Balance of Trade in 2018 When