Economics – Class 12 – Balance of Payment – 2023-24 – Macro Economics – Balance of Trade, Types of balance of Trade, Current Account in Balance of Payment, Components, Export & Import of Goods, Export & Import of Services, Unilateral Transfers, Net Value, Capital Account in Balance of Pay...
,Balance of Trade:
It is the difference between the valu
goods exported and value of goods
imported.
BOT = Export value – Import value
[Only Tangible/ Visible goods]
It is a Narrow concept as Compared
Balance of payments.
, It is a statement that records all
economic transactions of a country
with rest of the world.
Visible items: It includes all types of phy
exported & imported. These are seen cro
borders. e.g. Machines and many other t
goods.
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