When a country's total visible and invisible exports are more than its visible and invisible imports, it has?
Answer Details
When a country's total visible and invisible exports (money it earns by selling goods and services to other countries) are more than its visible and invisible imports (money it spends on buying goods and services from other countries), it has a favourable balance of trade. This means that the country is earning more foreign exchange than it is spending, which is generally considered a good thing for its economy. Favourable balance of trade is often seen as a part of the broader concept of balance of payments, which refers to the record of all economic transactions between a country and the rest of the world over a period of time. Therefore, when a country has a favourable balance of payments, it means that it is earning more foreign exchange than it is spending over a period of time.