And that unconsumed surplus, sold abroad, becomes what we call our favorable balance of trade
. Are we all agreed so far?"
"We don't strive for a favorable balance of trade
(for China), the current state of trade affairs are shaped by the market," he told a briefing in Beijing on Friday.
The leading industrial nations (essentially the Allies), which had access to raw materials, turned to economic nationalism, withdrew from the world economy, and instituted policies protecting their domestic markets in order to maintain a favorable balance of trade
. On the other hand, other industrial powers (the Axis), having limited natural resources, resorted to aggression and expansionism and sought recovery from the Depression through the use of force.
Although Pakistan is having favorable balance of trade
with Portugal and overall trade is also growing for the last three years in particular but there is a lot that can be done.
The PSA noted that the country had a favorable balance of trade
in goods (BOT-G) with a surplus of $281 million compared to the $663 million deficit in the same period in 2013.
Pakistan exported goods worth $539 million against imports of $2.4 billion with the result India had $1.7 billion favorable balance of trade
. Since India has surplus to export, whereas Pakistan is handicapped due to gas and electricity outages, in addition to high electricity tariff, Pakistan stands to lose.
Complex issues of world trade, protecting the industry from exploitation and achieving favorable balance of trade
is getting an uphill task.
Sri Lanka has had a favorable balance of trade
with Belgium over the years.
The industry had $36 billion in exports last year and a favorable balance of trade
, according to AdvaMed, but the trade surplus has shrunk by more than two-thirds over the past 12 years.
In 2009, Syria had a favorable balance of trade
with Yemen valued at YER 618 million.
Japan's favorable balance of trade
increased for 2 successive years, to JPY 10,224.6 billion in 2007.