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Balance of Trade is the accounting of goods and service imported and exported.

Balance of Payments is the accounting of money owed and loaned other nations.

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Q: Difference between balance of trade and balance of payment?
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What is the difference between the balance of trade and the balance of payments?

the balance of trade is how much you receive the balance of payment is how much you pay


What is balance of trade and payment?

Balance of payment is the difference between the money coming into the country and the money leaving the same country.


Is Australia's Balance Of Payments positive?

balance of payment is the difference between exports and imports so if Australia's exports trade balance exceeds its imports trade balance then it is positive


What is the real difference between balance of trade and balance of payment?

Balance of Trade is the accounting of goods and service imported and exported. Balance of Payments is the accounting of money owed and loaned other nations.


Balance of trade?

The difference between the value of imports and exports of a country is the balance of trade. It is a country's largest component of balance of payments.


What is the difference between total imports and exports?

The balance of trade.


Elements of balance of payment?

Trade in goods Trade in service Imports and Transfer are the 4 main element of the balance of payment.


Balance of trade in a sentence?

The balance of trade (or net) is the difference between monetary value of exports and imports of output in an economy.


What is a balance of trade?

A balance of trade is the difference between the monetary value of exports and imports in an economy over a certain time period.


What is Canada balance of trade and balance of payment?

Plus $85 billion


The difference between visible exports and visible imports is defined as?

Balance of trade


What is mean trade?

Basically, the balance of trade is when the difference in value between a country's imports and exports is more or less equal.