What are the main components of Balance of Payments (BoP)? Discuss the factors affecting the BoP.

The main components of Balance of Payments:--

Current Account

The current account monitors the flow of funds from goods and services trade (import and export) between countries. Now this includes money received or spent on manufactured goods and raw materials. It also includes revenue from tourism, transportation receipts, revenue from specialized services (medicine, law, engineering), and royalties from ____ _________ _____ ________ __________ __________.
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