Do you know the difference between Balance of payment and Balance of Trade?

Question Posted / mahendra@mahi

Do you know the difference between Balance of payment and Balance of Trade?..

Answer / Saurabh Gangwar

Balance of Payment (BoP) is a broad term that includes all transactions between a country and the rest of the world, including goods, services, income, and current and capital transfers. On the other hand, Balance of Trade (BoT) specifically refers to the difference between a country's exports and imports of goods and services.

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