Net export and trade balance NX=net exports[(a.ka(仅)the“trade balance'” (贸易收支)]=EX-IM ■IfNX>0, country has a trade surplust(贸易顺差) equal to NX ■fNX<0, country has a trade deficit(贸易逆差) equal to-NX CHAPTER8 The Open Economy slide 5 CHAPTER 8 The Open Economy slide 5 NX = net exports［ (a.k.a.(又名) the “trade balance” (贸易收支)］= EX – IM ▪ If NX > 0, country has a trade surplus(贸易顺差) equal to NX ▪ If NX < 0, country has a trade deficit (贸易逆差) equal to – NX Net export and trade balance 1