Role of BOP in Economic development

The seminar titled ‘Role of BOP in Economic development’ is about role and importance of Balance of Payment in economy. The balance of payments of a country A record of international transactions between residents of one country and the rest of the world. It takes into account the export and import of both visible and invisible items. It reflects all payments and liabilities to foreigners (debits) and all payments and obligations received from foreigners (credits). Balance of payments is one of the major indicators of a country's status in international trade. Very often, debit exceeds credit or the credit exceeds debit causing an imbalance in the balance of payment account. Such an imbalance is called the disequilibrium. Disequilibrium may take place either in the form of deficit or in the form of surplus.