Significance of Balance of Trade in UK Economy during COVID-19 Pandemic

Research Methods

Table of Contents
Introduction.................................................................................................................................................3
Research Objectives................................................................................................................................3
Research Questions.................................................................................................................................3
Methodology...............................................................................................................................................3
Ethical consideration...................................................................................................................................4
References...................................................................................................................................................6

Introduction
Balance of trade depicts the difference between exports and imports of a country for a
particular period of time. It is one of the significant element that directly affects the economy of
a country in profound manner. At the time of COVID-19, the business got disrupted as the
government put halt on various trade activities. Here, stop on business activities put a profound
impact on the imports and exports of UK (Baek, Ikponmwosa and Choi, 2019). The present
study is based on analyzing the significance of balance of trade in UK economy during COVID-
19 pandemic. Further, it will also cover the impact of pandemic on the economies of balance of
trade.
Research Objectives
1. To determine the concept of balance of trade in the Economy of UK.
2. To examine the impact of COVID-19 on the economies in balance of trade.
3. To analyse the importance of economies of balance of trade in the UK economy.
Research Questions
1. What is the concept of balance of trade in the Economy of UK?
2. What is the impact of COVID-19 on the economies in balance of trade?
3. What is the importance of economies of balance of trade in the UK economy?
Methodology
To complete the research project, several steps are undertaken. Here, the data is collected,
analyzed as well as interpreted so that the pre-defined research goals can be attained. In addition
to this, research methodology includes numerous elements so that the researcher can accomplish
the project work in timely manner. In this regard, the different elements of research methodology
are elaborated below:
Research approaches: Research approaches are the significant element of the overall
research methodology. These approaches are used to collect the necessary information in timely
manner. Without following suitable research approaches, it is quite complex to complete the