FAVOURABLE BALANCE OF PAYMENTS: This is when a country’s total payments is less than her total receipts i.e. when total receipts from both visible and invisible exports is greater than payments made for visible and invisible imports.
FAVOURABLE BALANCE OF PAYMENTS: This is when a country’s total payments is less than her total receipts i.e. when total receipts from both visible and invisible exports is greater than payments made for visible and invisible imports.