Yes or no. To have a favorable balance of trade, a country must sell fewer goods to other countries than it buys from other countries.

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Yes, to have a favorable balance of trade, a country must sell fewer goods to other countries than it buys from them. This means that the value of a country's exports should be less than the value of its imports.

To understand why this is the case, it's helpful to consider the concept of balance of trade. The balance of trade is a measure of the difference between the value of a country's exports and the value of its imports over a specific period of time, typically a year. A favorable balance of trade, also known as a trade surplus, occurs when the value of a country's exports exceeds the value of its imports.

To determine if a country has a favorable balance of trade, you can look at its trade data, which is typically compiled by government agencies responsible for tracking international trade. These agencies collect information on the value of goods and services exported and imported by a country.

By comparing the value of a country's exports to the value of its imports, you can determine whether the country has a favorable or unfavorable balance of trade. If the value of exports is greater than the value of imports, the country has a trade surplus and a favorable balance of trade. Conversely, if the value of imports exceeds the value of exports, the country has a trade deficit and an unfavorable balance of trade.

In summary, if a country sells fewer goods to other countries than it buys from them, it will have a favorable balance of trade.