{"id":32440,"date":"2015-06-04T13:26:23","date_gmt":"2015-06-04T13:26:23","guid":{"rendered":"http:\/\/vskills.in\/certification\/blog\/?p=32440"},"modified":"2024-04-03T13:22:56","modified_gmt":"2024-04-03T07:52:56","slug":"foreign-trade-balance-of-payments","status":"publish","type":"post","link":"https:\/\/www.vskills.in\/certification\/blog\/foreign-trade-balance-of-payments\/","title":{"rendered":"Foreign Trade: Balance of Payments"},"content":{"rendered":"<p style=\"text-align: center\"><a ref=\"magnificPopup\" href=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/05\/Foreign-Trade.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-32769\" src=\"http:\/\/vskills.in\/certification\/blog\/wp-content\/uploads\/2015\/05\/Foreign-Trade.jpg\" alt=\"Foreign Trade\" width=\"228\" height=\"221\" \/><\/a><\/p>\n<p><strong>Meaning of Balance of Payments:<\/strong><\/p>\n<p>It is an accounting statement that provides a systematic record of all the economic transactions, between residents of a country and the rest of the world in a given period of time.<\/p>\n<p><strong>Structure of Balance of Payments:-<\/strong><\/p>\n<p><em>a) Balanced BOP:\u00a0<\/em>BOP is balanced when receipts of foreign exchange are equal to payments of foreign exchange.<\/p>\n<p>b)<em> Surplus BOP<\/em>: BOP is surplus when receipts of foreign exchange are more than payments of foreign exchange.<\/p>\n<p>c) <em>Deficit BOP<\/em>: BOP is in deficit when receipts of foreign exchange are less than payments of foreign exchange.<\/p>\n<p><strong>Meaning of Balance of Trade:<\/strong><\/p>\n<p>It refers to difference between the amounts of exports and imports of visible items(goods).<\/p>\n<p>Balance of Trade= Exports of goods &#8211; Imports of goods<\/p>\n<p><strong>Difference between Balance of Trade and Balance of Payments:<\/strong><\/p>\n<p><strong> \u00a0Basis \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0Balance of Trade(BOT) \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Balance of Payments(BOP)<\/strong><\/p>\n<p>Meaning \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 It refers to difference between \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 It is an accounting statement that provides a<\/p>\n<p>amounts of exports and imports of \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 systematic record of all economic \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0visible items. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 transactions , between residents of a country \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 and rest of the world in a given period of time.<\/p>\n<p>Components \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0It includes only visible items. \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0It includes visible items, invisible items and \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 capital transfers.<\/p>\n<p><strong>Components of Balance of Payments<\/strong><\/p>\n<p><strong>a) Current Account:-\u00a0<\/strong>It refers to an account which records of all the transactions relating to export and import of goods and services and unilateral transfers during a given period of time.<\/p>\n<p><strong>b) Capital Account:-\u00a0<\/strong>It records all those transactions, between the residents of a country and the rest of the world, which cause a change in the assets or liabilities of the residents of the country or its government.<\/p>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/foreign-trade\">Click here for government certification in Foreign Trade<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meaning of Balance of Payments: It is an accounting statement that provides a systematic record of all the economic transactions, between residents of a country and the rest of the world in a given period of time. Structure of Balance of Payments:- a) Balanced BOP:\u00a0BOP is balanced when receipts of foreign exchange are equal to&#8230;<\/p>\n","protected":false},"author":1278,"featured_media":32769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1526],"tags":[2179,2177,2385],"class_list":["post-32440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-foreign-trade","tag-bop","tag-bot","tag-foreign-trade-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Foreign Trade: Balance of Payments - Vskills Blog<\/title>\n<meta name=\"description\" content=\"Foreign Trade- Balance of Payments and Balance of Trade. Apply for a vskills certification in Foreign trade now. 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