What do you mean by balance of payment and balance of trade
(ii) explain capital account, (iii) define balance of trade, invisible balance and ( overall) balance of payment deficit/surplus. A nation's balance of payments record That, in turn, means we can no longer fund a large balance of payments deficit so easily. Times, Sunday Times (2017). The budget deficit is the government living Record of all international transactions for goods and services, income payments and receipts, and unilateral transfers. The current account is used in the national