3.2.5. Balance of payments
Balance of payments - a statistical report, in systematized form which summarizes the data on the economic transactions of a country with other countries, for the designated period of time.
The main data neobhodimmymi to calculate it are receipts from exports of goods, services, income from overseas investments and acquisitions by foreign firms of domestic assets of the country, and the basic operations of payment - the payment of import of goods, services, income payments on foreign investments in this country and purchase a resident foreign assets. The balance of payments is compiled for a specific period - annual, quarterly, monthly.
The information contained in the balance of payments is used to: assess the creditworthiness of the country, predicting the impacts of foreign economic relations at the foreign exchange market and exchange rate (of regulation), assessment of the economy, predicting the possible economic, fiscal and monetary policies, the calculations of gross domestic product, etc.
Balances of payments made up in the national currency of the country, transfers data at market exchange rates, folding at the date of the transaction. If the national currency is unstable, the balance of payments may be made in hard currency of any country.
The overall balance of payments is positive if the current account balance in the amount of the balance of operations and capital and financial instruments, forms a positive balance. This leads to an influx of foreign currency into the country and increase foreign currency reserves. In the case of negative balance, there is a balance of payments deficit, and the country's national bank has to reduce foreign exchange reserves. The country can not for a long time to spend on the purchase of foreign goods, services and assets of more than received proceeds from sales of own goods, services and assets. Therefore, the balance of payments is it the most important analytical concept.
