Consider the following statements regarding balance of trade (BOT).
(i). It is the difference between the value of exports and value of imports of goods of a country in a given period of
time.
(ii). Surplus balance of trade will arise if country exports more goods than what it imports.
Which of the above statement/s is/are correct?

Statement (i):
"It is the difference between the value of exports and value of imports of goods of a country in a given period of time."
This is correct.
The Balance of Trade (BOT) is indeed the difference between the value of exports and the value of imports of goods for a country over a specific period of time, typically a year or a quarter. If exports exceed imports, the BOT is positive (surplus), and if imports exceed exports, the BOT is negative (deficit).
Statement (ii):
"Surplus balance of trade will arise if a country exports more goods than what it imports."
This is also correct.
A surplus in the balance of trade occurs when a country exports more goods than it imports. This results in a positive balance of trade, indicating that the country is a net exporter of goods.