Business Studies, asked by sukkagowtham8879, 1 year ago

How balance of payments are different from balance of trade?

Answers

Answered by KameenaYaar01
1

Answer:

Balance of trade is the difference between exports of goods and imports of goods. Balance of payments is the difference between inflow of foreign exchange and outflow of foreign exchange. The net effect of balance of trade is either positive, negative or zero. The net effect of balance of payments is always zero.

Answered by diazkatherine945
0

Answer:

Foreign exchange reserves

Explanation:

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