The paper "Composition of the UK’ s Balance of Payments Arrangements" is a perfect example of an assignment on business. Balance of payments usually refers to the amounts of imports and the amounts of exports that a given country has at a time. As such, this is an in-depth analysis of the value of imports and the value of exports that the UK undertakes during a normal fiscal year. In fact, the balance of payments forms one of the key economic statistical series of the United Kingdom as it provides various measures of the economic transactions between the residents of the United Kingdom and the rest of the world.
A recent study (Redwood, 2013) shows that the balance of payments also draws a series of balances that occur between the inwards and outwards transactions in order to provide a net flow of transactions between the residents of the United Kingdom and the world at large, as well as, provide a comprehensive report on the basic funding of these flows. The balance of payments incorporates a variety of transactions, key among them being the exports and imports of goods and services.
These goods and services include products such as oil, agricultural produce, machinery, and transport equipment, other raw materials, white goods, computers, as well as clothing. The export and imports trade of services includes services such as international transport, majorly through airlines and freight services, travel, business, and financial services. According to Pettinger (2014), other economic transactions that make up the balance of payments in the United Kingdom include the financial flows, such as the investments in shares, direct investments, loans and deposits, as well as, the debt securities.
Transfers also constitute the balance of payments, because they are the offsetting entries to any one-sided transaction as listed above, such as the funds brought by migrants in the united kingdom, or the foreign aid. The international investment position series of statistics relate closely to the balance of payments.
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