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COMPONENTS OF BALANCE OF PAYMENTS
Receipts (Credits) Payments (Debits)
1. ... The difference between these two (X-M) is termed as the balance of goods and services or the “balance on current account.” The claims arising from the sales & purchases of securities are included in the capital account and the difference is termed as the “balance on capital account.”
The international balance of payments of a country may be in balance in the sense of equality between total payments and total receipts. ... By deficit or surplus in the balance of payments is usually meant gold movements plus “accommodating” capital movements- those capital movements which are induced by the conditions of balance of payments and by loans that are given or taken for the explicit purpose of equalizing the payments balance .
Approximate Word count = 561
Approximate Pages = 2.2
(250 words per page double spaced)
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