Over the course of a year, a nation records that its exports total an equivalent of $61,475,059, and its imports total an equivalent of $69,696,824. What is this nation’s balance of trade?

A nation’s balance of trade is its exports minus its imports. Here, $61,475,059 − $69,696,824 = −$8,221,765. Because imports exceed exports, the nation has a trade deficit of $8,221,765.

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