Distinguish between balance of trade and balance of payment. Enumerate various items to be included in balance of Payment Accounting.

Balance of trade and balance of payment are two important concepts in international economics, but they are different from each other in scope and meaning.

Balance of trade refers specifically to the difference between the value of a country’s exports and imports of goods during a particular period. It focuses only on the trade of tangible goods. If a country exports more goods than it imports, it has a trade surplus, and if it imports more than it exports, it has a trade deficit. Balance of trade is a part of the current account in the broader balance of payment statement. It reflects how competitive a country’s goods are internationally and how much demand there is for those _________ _____ ___ _______ ______ _________ ______ _______ ______ _______ ______ _____.
______ ___ ______ ___ ________ ______ __________.
_______ _______ _________ _____ _____ _______ _________ ______ __________ _______.
____ ___ _____ ___ _____ ___ _________ ______ _____.
____ ______ ____ __________ ______.
_____ _____ __________ ___ ___ _____ _________ _______ ____ ________ _________.
_____ ____ ______ _________ ________ ________.
___ _____ ________ __________ _____ ______ _____ ____ _______.
_________ __________ _________ _______ __________ ________ ____ _________ ________ _______ _____.
________ ___ _________ __________ _________.
_________ __________ __________ _______ _____ ____.
__________ __________ ____ ____ __________ ______ ___ _________ _________.
____ _______ ___ ___ _________ ___ ___.
_______ _____ ___ ___ _____ _____ ________ __________ ______ __________.
________ ________ __________ __________ __________ ____ ___ ______.
_______ ___ ________ _______ _________ ____ ____ ___ _________.
______ _______ ______ ____ _____.
____ ________ _____ ____ _____ ____ ______.
_______ _______ ________ _________ _________ _______.
______ ________ ________ ________ _________.
______ ________ _______ ________ _______ _____ _____ ____ _______ _________ _____ _____.
____ _________ ____ ______ ___ _______ _____ ___.
________ ____ _______ ______ ________ __________ _______ ___.
_______ _________ __________ ___ ____ _______ ________ ______ ________ _________ _____ ________.
__________ _________ _________ ____ _______ __________ ___ ___.
_________ _______ ________ _________ _____ _______ ______ _________ _________ ________ _________ ___.
_________ _________ _______ ____ _________ ______ ___ _________ ____ _____ __________ ____.
____ ______ ____ ____ __________ ____ ________.
________ ____ _________ ______ _______.
____ _______ __________ __________ ______.
____ ________ __________ _______ ___ ______ __________ _______ ______ ________ _________ _________.
____ _______ ______ _______ ________ _________ ___ ________.
_______ ______ __________ ______ _______ __________ ____ ______ _____ ________ _____ ____.
___ _____ ___ _______ ____.
_____ _________ ________ _______ ________ ____ ___.
_________ _________ _______ ____ _____ ________ _______ ________ ____ ________ ______ ________.
_____ __________ ___ ___ ____ ___ ____ _______.
_________ ______ ________ _________ ____ _____ ____ _________ ___ ___ ______ __________.
______ __________ _______ _________ _____ ______ __________ ______ ___ __________ _____.
_____ ____ _____ __________ ____ _____ _____.
__________ __________ ____ _______ _____.
______ ______ ____ ______ ___ _____ _________ _________ _______ _________ __________.
_____ ____ _____ ____ ________ ___ _________ ____ _______ __________ _________.
_________ _________ _________ _____ ___ _________ __________ ________ _______ ______ __________ ______.
______ _______ ________ _________ __________ ________ ___ ___ ________ ______.
___ _________ ______ _________ _________ _________ ________ ______ _________.
_________ __________ __________ ________ _________ __________ ________ ____ _______ ____ _______ ____.
____ ________ ________ _________ __________.
______ ______ ____ ______ ______ ______ _______ ___ ____.
___ ____ _____ _____ ______ ________ _______ _________ ____.
___ _______ ___ _________ __________.
______ ____ _________ ___ ___ ___ _______ __________ _____ ______ _____.
__________ __________ ________ ______ _________ ________ _________ ____.
___ __________ ___ ______ _________ ______ _______ _______ _____ _______ ___ _____.
___ ____ _____ ______ ____ ___ _____.
Get Full Answer on WhatsApp