Russia's balance of payments. Its structure and essence

Russia's balance of payments is considered a document reflecting all transactions with funds servicing foreign economic relations of the country.

On the principle of double-entry bookkeeping, all foreign economic transactions are recorded. For example, money that comes to the country through export comes with a plus sign, that is, in the form of income, and money that leaves the country, for example, payment for imports, is written with a minus sign in the balance of payments of Russia, that is, As an expense.

The balance of payments is the result that is obtained as a result of foreign economic transactions, the difference between the income received and the expenditure. It can be negative and positive. If the balance is negative, then the state will have a balance of payments deficit. This country, in other words, abroad spends more money than it receives from outside, and as a consequence of this "living beyond its means" lives in the foreign economic field. This may have a negative effect on the stability of the exchange rate of its national currency.

Russia's balance of payments has three major sections: the balance (or account) of current operations, the balance (or account) of capital transactions, the calculation of official international reserves.

The process of exchange of services and goods and one-way one-time payments are reflected in the current operations balance sheet. The trade balance of the country refers to the part containing imports and exports. As a result, it turns out that the concept of "balance of payments" is broader than the "trade balance". The trade and balance of payments is an important document of the state. The balance is considered active, or positive, when exports exceed imports. Passive, or negative, if imports exceed exports. Trade in services (transfer of inheritance, services of communication lines, transfer of money abroad to relatives, maintenance of military bases abroad, tourism, etc.) is reflected in section I of the balance of payments. In the section "Current account balance" is shown in the total result of one-off payments, exchange of services and trade balance.

The sale and purchase of foreign assets, the receipt and provision of short-term and long-term loans and loans are reflected in the balance of capital flows. The funds that other states provide to foreign enterprises or other states are treated as an outflow of capital, and in the form of inflows take into account loans that are received from other states.

Operations that are not related to commercial activities are identified in the third section. They balance the balance of payments, for example, due to the fact that its deficit will decrease.

To do this, use a deferral on previously received loans and interest for its use, the attraction of new loans, the sale of gold. These operations contribute to the improvement of the balance of payments, as a result of which they were allocated to a special section.

Russia's balance of payments is the main statistical document that reflects the foreign economic operations of the state. For the country's economy, this has important consequences. Unsustainable sharp changes in the balance of current transactions in one or the other direction. Because if the balance increases sharply, this will lead to a rapid increase in the money supply. This stimulates inflation, and a sharp decrease in the exchange rate can rapidly increase the negative balance. This leads to a mess in the foreign economic operations of the country. The state precisely for this reason adjusts the balance of payments actively. It uses direct control, fluctuations in the exchange rate, operations with official international reserves.

The country's trade balance is based on the data of customs statistics, which takes into account the volumes of goods that really cross the border. The payment balance takes into account receipts and payments in the course of foreign trade turnover, they can not coincide with the movement of goods with the movement of goods.