A trade deficit means that?

Assessment: WAEC SSCE - Commerce - 1991 (Objective) Subject: Commerce

Question 1 Report

A trade deficit means that?
Answer Details
A trade deficit means that a country is importing more goods and services from other countries than it is exporting to them. In other words, the value of a country's imports is greater than the value of its exports. This can be a concern for some because it may mean that a country is relying too heavily on imports and not producing enough goods or services for export, which could potentially impact its economy.
Read lesson note on Trade (WAEC)
Read lesson note on Commerce (JAMB)
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