What is the difference between the value of a country's merchandise exports and merchandise imports known as?

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The difference between the value of a country's merchandise exports and merchandise imports is known as the balance of trade. It is a component of the balance of payments, which also includes services, income, and transfers. The balance on current account refers to the net flow of goods, services, and income between a country and its trading partners, while the balance on capital account refers to the movement of financial assets between countries.

What Is the Difference Between the Value of a Country's