Which term describes the financial difference between a country's exports and imports?

The term that describes the financial difference between a country's exports and imports is "trade balance." This concept refers to the net difference between what a country sells (exports) to other countries and what it buys (imports) from them.

When the value of exports exceeds the value of imports, the trade balance is positive, indicating a trade surplus. Conversely, if imports exceed exports, it results in a trade deficit. Thus, the trade balance encompasses both of these conditions, reflecting the overall economic relationship between exports and imports.

A trade agreement refers to formal arrangements between countries to govern trade relations and does not directly address the financial differences between exports and imports.