If the value of all the goods/services that United States exports is greater than the value of all that it imports, then this is referred to as a1. Trade deficit.2. Balance of payments.3. Trade advantage.4. Balance of trade.5. Trade surplus

If the value of all the goods/services that United States exports is greater than the value of all that it imports, then this is referred to as trade surplus

The terms such as commercial balance, balance of trade or net exports are used for the value in terms of money for a nation related to its imports and exports. The difference between the value of imports and the value of exports is used for the determination of the balance of trade of an organisation.

Balance of trade measures the flow of imports and exports over certain period of time. When the value of imports and exports are equal then its exports and imports are said to be in balance. If the values of exports is more than the value of imports then it is said to have trade surplus or positive balance of trade. It the value of exports is less than the value of imports then it is called trade deficit or negative balance of trade.

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