Balance of payment refers to the net results that are drawn after recording all the visible and invisible items that are imported and exported from the country. Balance of payment, as such, provides a comprehensive statment over the net results of foreign trade and gives a true picture as to where the country stands in the international trade.
Balance of payment clearly exposes the economic viability, strength, and
capability by correctly measuring its imports and exports, competency in goods and services as well as technical know-how. By services we mean the services of shipping lines, insurance companies banking concerns, and others. Balance of payment also includes the foreing loan that is either provided by it or accepted from other country or countries.
(i) Balance of Payment
(ii) Balance of Payment
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