What is difference between bop and …
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Yogita Ingle 6 years, 7 months ago
Comparison between BOT and BOP. Briefly BOT is the difference between money value of imports and exports of material goods only whereas BOP is the difference between a country's receipts and payments in foreign exchange. Balance of payments is a wider concept as compared to balance of trade because BOT is just one of the four components of the former. BOT includes only export and import of goods whereas BOP includes (i) export and import of goods (ii) export/import of services (iii) unilateral receipts/payments and (iv) capital receipts/payments. Therefore, BOP represents wider and comprehensive picture of a country's economic transactions with the rest of the world than the Balance of Trade. Both are compared below.
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