What is the between Balance of Trade and Balance of Payments?
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Answer Posted / Giridhari Kumar Jha
Balance of Trade (BoT) refers to the difference between a country's imports and exports over a certain period. It measures the net value of all goods and services exported minus those imported. On the other hand, Balance of Payments (BOP) is a broader concept that encompasses all transactions between a domestic economy and the rest of the world over a specified time. It includes not only trade in goods and services but also investments, income from abroad, gifts, grants, and other private and public transfers.
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