Question by whateverlala: How can the balance of import and export affect a country’s economy?
in other words: What are the consequences of a higher import/a higher export?
Best answer:
Answer by Weatherman
Quite simple
Higher value imports = trade defecit = money leaving the country that is gone from the economy
Higher value exports = trade surplus = money entering the country that can be used in that country
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1 Response
When you import you are not producing goods in your country which might hurt your unemployment rate. Since those goods were not made in your country they may be cheaper like in chine its said they work for 1dollar perday nobody can beat those prices.
Posted on October 18th, 2011 at 5:27 pm
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