2.2.5 Net trade

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10 Terms

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Exports

Selling goods and services to another country.

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Injection into the circular flow of income

Adds to AD.

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Trade balance

Difference between the value of exports and imports; can be surplus or deficit.

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UK exports

Goods and services sold from the UK to another country (e.g., Nissan, BMW).

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Cause of UK exports: Strength of domestic market

How much the population is buying.

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Cause of UK exports: Exchange rates

If the pound gets weaker, exports increase.

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Cause of UK exports: Availability of resources

Determines a country's capacity to export goods.

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Cause of UK exports: International competition

Affects global appeal and trade volumes.

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Cause of UK exports: Price of exports

Pricing levels affect international demand.

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Cause of UK exports: Regulations and tariffs

Factors like Brexit and tariffs impacting trade.