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pg_dump is a nifty utility designed to output a series of SQL statements that describes the schema and data of your database. You can control what goes into your backup by using additional flags.
Backup:pg_dump -h localhost -p 5432 -U postgres -d mydb > backup.sql
Restore:
psql -h localhost -p 5432 -U postgres -d mydb < backup.sql
-h is for host.
-p is for port.
-U is for username.
-d is for database.