1a Russia's BOP in year 2006 was (in millions) $
1b The net capital flow in year 2006 was (in millions) $
The balance of payment(BOP) refers to the annual statement of an economy which reflects the international transactions of any country. The balance of payment account is maintained by the central bank of every country.
BOP account has the following accounts:
current account: the record of all the imports and exports of goods and services in the country.
Capital Account: the record of all the capital transactions between any country and the foreign country.
Financial account: the record of the foreign investments in the country, investments like FDI, FII
Net errors and omissions: The BOP account always balances to correct the imbalances caused by the above-mentioned 3 accounts this account is maintained.
Reserves and related items: transactions in the current, capital, and financial account brings about changes in the reserves of the country.
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