The Balance of Trade is one of the accounts that constitutes a country's Balance of Payments. This account registers all the transactions which involve sales or purchases of goods or services performed by the nation analyzed and a foreign party.
If the amount of imports equals the amount of exports, a balance is reached. Otherwise:
<u>If exports are greater than imports: there is a trade surplus in the Balance of Trade and the country will have net savings. This is the case in China. </u>
If exports are smaller than imports: then there is a trade deficit in the Balance of Trade and the country will need to seek for financing to cover that difference.
Latin America's economy is composed of two main economic sectors: agriculture and mining. Latin America has large areas of land that are rich in minerals and other raw materials. Also, the tropical and temperate climates of Latin America makes it ideal for growing a variety of agricultural products.
Same sex marriage went against the bible. That is how some thought then and an outrage came about. Also people don't choose to be gay, lesbian bi, etc.