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can any 1 tell the definition of balance of payment and balance of trade regarding PAkistan studies paper2 trade?
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definiton of balance of payment and balance of trade!!
- Thread starter WOLV3RIN3
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There is a FaceBook Forum Olevel Geography. It has hell a lot of information about geography. I have got an account of one of my friends who is there added as a friend.
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Ok dude here you go..
Balance of payment records all the transactions a country's residents do with the residents/firms of other countries. It includes the following accounts:
1. current account (i.e. trade in goods, trade in services, income transfers)
2. capital account
3. financial position.
Balance of trade is the difference between the net exports and net imports.
If for example the exports are worth $100 million and imports are woth $80million then BoT would be $20million surplus. and if the trading position would have been vice versa then BoP would have been $20 deficit.
Balance of payment records all the transactions a country's residents do with the residents/firms of other countries. It includes the following accounts:
1. current account (i.e. trade in goods, trade in services, income transfers)
2. capital account
3. financial position.
Balance of trade is the difference between the net exports and net imports.
If for example the exports are worth $100 million and imports are woth $80million then BoT would be $20million surplus. and if the trading position would have been vice versa then BoP would have been $20 deficit.