The amount by which the value of a country’s exports exceeds that of its imports.
- Unlike the preceding twenty-six years, during which export revenues were used to pay for imports, in 1997 and 1998 countries needed an export surplus to finance capital flight.
- The Chinese run an export surplus with the US, receive reserve assets in exchange, and then allow domestic credit to increase on the base these provide.
- During these years, it was imperative that India generated an export surplus with the rest of the world in order to pay her sterling obligations.
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