What is meant by Balance of Payments or BOP?

The Balance of Payments (BOP) is a comprehensive record of a country’s economic transactions with the global economy, capturing trade in goods, services, and investments. Composed of the Current Account and Capital Account, BOP reflects a nation’s financial health. A current account surplus indicates more exports than imports, while a deficit suggests increased debt. The capital account monitors asset purchases and investments. Factors like exchange rates, consumer spending, and trade policies influence BOP, with surpluses or deficits providing insights into the country's economic trajectory.

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