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What is Understanding Balance of Payments (BOP) about?
The balance of payments is an accounting record of all monetary transactions between a country and the rest of the world. It includes exports/imports of goods, services, and financial capital, as well as financial transfers. The balance of payments must always balance to zero in aggregate, though individual components like the current account can be in surplus or deficit. Large and persistent imbalances, especially in the current account, are concerning as they can lead to increasing debt levels or foreign
- Author
- sneha_gehani
- Language
- EN