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Balance Of PaymentBy:- Prateek Kumar.Manish Gupta.TheBalance Of Payments(BOP) of a country is the record of all economic transactions between the residents of a country and the rest of the world in a particular.

These transactions are made by individuals, firms and government bodies.Balance Of PaymentX - M + NY + NCTCalculation OF Balance Of PaymentX = Exports of goods and servicesM = Imports of goods and servicesNY = Net income abroadNCT = Net current transfersIndia

Exports:$ 313.2 Billion Merchandise Export$ 150.9 Billion Service Export$ 464.2 Billion total (2013)

Export Goods:Agricultural Products.JewelerEngineering goodsPharmaceuticalsTextilesSoftware etcMain Export Partners (India)

United States 12.5%China 4.9%European Union 16.7%

UAE 10.1%

Singapore 4.2%India

Imports:$ 466 Billion Merchandise Import$124 Billion Service Import$ 590 Billion Total (2013)

Import Goods:Gold & Precious StoesVegetable OilIron & SteelPlasticsChemicalsElectronics etcMain Imports Partners (India)

Switzerland 5.3%Saudi Arabia 7.9%China 11.1%UAE 7.1%European Union 10.6%United States Of America

Exports:$ 1.64 Trillion (2014)

Export goods:Capital GoodsConsumer GoodsFood, Feed And BeveragesMotor Vehicles And Components

Main Exports Partners (USA)

Canada 19.2%Mexico 14.8%Japan 4.1%United Kingdom 3.3%China 7.6%United States Of America

Imports:$ 2.37 Trillion (2014)

Import Goods:Crude OilIndustrial SuppliesMotor Vehicles And Components etcMain Import Partners (USA)

China 19.9%Canada 14.8%Japan 5.7%Germany 5.3%Mexico 12.5%