A country's balance of trade of-$20 million shows that its

Commerce

WAEC 2025

A. import volume is greater than export
B. import and export volumes are equal
C. export volume is greater than imports
D. exports are mainly primary products

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Correct Answer: Option A

Explanation

A country's balance of trade of-$20 million shows that its import volume is greater than export. The balance of trade is
the difference between the value of a country's imports and its exports. When a country's imports exceed its exports, it
has a trade deficit, which is represented by a negative balance of trade.

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