Write two differences between balance of payment and balance of trade.

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Differences between balance of payment and balance of trade:Balance of paymentBalance of tradeBalance of Trade is a stat...

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Differences between balance of payment and balance of trade:Balance of paymentBalance of tradeBalance of Trade is a stat...

Balance of payment	Balance of trade
Balance of Trade is a statement that captures the country's export and import of goods with the remaining world.	Balance of Payment is a statement that keeps track of all economic transactions done by the country with the remaining world.
Transactions related to goods only.	Transactions related to both goods and services are recorded.