Understanding Balance Of Payment (for UPSC, CSE, IAS, IRS etc.)

Lesson 2 of 4 • 172 upvotes • 9:06mins

Anurag Sharma

This lesson deals with Understanding of Balance of Payment. BOP is an important concept when it comes to the understanding of export and import of a country. Like a trader a country has to maintain a record of various transactions, it undergoes with rest of the world. So basically, BOP is a statement of accounts of receipts and payments of a country with rest of the world.