Which term describes the situation when a country exports more than it imports?

The situation in which a country exports more than it imports is commonly referred to as a trade surplus. This term indicates that the monetary value of a country's exported goods and services exceeds that of its imported goods and services during a specific period. A trade surplus is often seen as favorable for a country's economy, as it can lead to an increase in national income and positive effects on employment.

A favorable balance of trade is indeed a description often associated with a trade surplus, as it suggests that the country is economically healthy, with strong export activities. However, specifying "trade surplus" is more precise in this context because it directly quantifies the difference between exports and imports. The other terms, such as unfavorable balance of trade and trade deficit, are used to describe scenarios where imports exceed exports, which do not apply to the situation described in the question.