Foreign Trade and Balance of Payment Assignment Help

Foreign Trade and Balance of Payment Assignment Help
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Foreign Trade and Balance of Payment Assignment Help

An Introduction to Balance of Payments

Balance of payments is termed to the sum of balance that appears on the visible as well as invisible items. It also comprises both the capital as well as financial accounts. By visible items it means all those things that are duly recorded by the customs barriers, whereas the invisible items/transactions are those that are left recording. In order to improve a country’s overall economic position on an international scale, it is essential that it holds a high and sustainable Balance of Payments along with an impressive Balance of Trade.

Also, some countries might present a deficit on trade balance, but can also have a surplus on the its BOP to make the payments position quite favourable. BookMyEssay provide Foreign Trade and Balance of Payment assignment help for college/university students at affordable prices. We offers quality writing services ontime.

Learning Process as to How Balance of Payments Balance

Balance of payments that reflect on the current account are termed as balance wherein the sum total of all the credit items are set in equality with the sum total of all its debit items. However, this situation infrequent, so a company always encounters either a deficit or surplus while reviewing its current account. In both situations, that are deficit or surplus, company capital account is affected. Simply put, such BOPs are initiated to balance with the help of capital account. The situations are balanced by enforcing the following scenarios:

In case of deficit, in the current account balance of payments, the same gets covered by:

  • Taking money from international market
  • Encashing upon a country’s foreign exchange reserve
  • By exporting gold

This can also be covered when the I.M.F. permits temporary accommodation.

Foreign Trade and Balance of Payment Assignment Help Discusses Types of Foreign Trade

Foreign Trade can be categorised into following 3 major groups.

  • Entrepot Trade: This category of trade which is also referred to as Re-export. This situation buying of goods from a single country and then selling it another country after processing of a certain operations.
  • Import Trade: Such category of trade features a scenario wherein a country buys of goods from other country. This results in inflow of services and goods that they get from foreign country to the home country.
  • Export Trade: This trade states includes sale of goods that is categorised into one country which gets transferred to another country or goods outflow. This can be done by transferring from home country to any foreign country.

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Need and Importance Discussed in Foreign Trade and Balance of Payment Essay Writing Help

Foreign Trade and Balance of Payment assignment help explains a number of importance and need of foreign trade. It is essential to a nation’s growth:

  • Division of specialisation and labour: Foreign trade includes a major component of division of labour and specialisation at the global scale. In such scansion, some countries are equipped with plentiful of natural resources. Thus, it exports raw materials along with importing finished goods from other countries that feature skilled manpower who are advanced in nature.
  • Shoots up standard of living: Imports have a positive influence on maintaining standard of living. This is done to impart choices of better goods and services which ultimately upscale their living standard.
  • Leads to division and resource utilisation: In simpler words, resources are infused in the pipeline to fuel production of goods which record and attract highest returns.
  • Price equality – Foreign trade have a major role in price equality. It therefore helps in upkeeping and stabilising the demand and supply, to fetch allowances that can be spend in transport and marketing sphere.
  • Upkeeping topmost quality & standardised goods: Since Foreign Trade is extremely competitive. It fuels in maintaining and rise the good demands, so the countries exporting have to manage the upkeep the goods quality.
  • Leads to better employment opportunities: The trend of foreign trade aims to generate employment opportunities by fuelling the mobility of resources and labour. It also helps in churning out direct employment which is employed in the import sector. On the other hand, indirect employment is fuelled in other economics sector.
  • Encourages International peace: Foreign trade aims to bridge the gap between countries. This also facilitates technology transfer along with rendering assistance from developed countries and is extended to developing countries.

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