The balance of trade refers to the difference between a country's total exports and total imports in a certain period of time, which is used to indicate the balance of payments of a country's foreign trade.
The trade balance is also called net export and trade balance. In economics, NX (net exports) symbol is often used for convenience.
When the total export value is equal to the total import value, it is called "trade balance".
When the total export value is greater than the total import value, there is a trade surplus, which is called "trade surplus" or "surplus".
When the total import value is greater than the total export value, there is a trade deficit, which is called "trade deficit" or "trade deficit".
Usually, the trade surplus is expressed as a positive number and the trade deficit is expressed as a negative number.
A country's import and export trade balance is an important part of its current account in the balance of payments and an important factor affecting a country's balance of payments.
In practice, net exports (trade balance) are sometimes subdivided into tangible goods and intangible services. For example, in the survey of current business report of the US Department of Commerce, there are items of "merchandise trade balance" and "balance on services"; In the UK, the terms "visible balance" and "invisible balance" are used.

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