The foreign trade balance is important element final use of GDP and is defined as the difference between exports and imports. If the foreign trade balance is positive, then there is net export.

Objective basis for coexistence human society is the continuous production of economic goods. Production, considered as a constantly renewed process, is a process of reproduction. There is a distinction between individual and social reproduction. Individual reproduction underlies the social and represents reproduction in individual firms. Social reproduction is the organic unity of production, distribution, exchange and consumption of economic goods. It includes three points:

Reproduction of the total social product;

Reproduction work force;

Reproduction of economic relations.

There are simple, expanded and reproduction on a “narrowed basis”

With simple reproduction, production is resumed in unchanged quantities, with expanded reproduction - in increasing sizes, and with reproduction on a “narrowed basis” - on a decreasing scale. The main problem of reproduction in any country is to ensure that production meets needs, i.e. correspondence of the volume and structure of production to the costs and income of society or the problem of balance. Theoretical basis reproduction analysis most modern schools economic theory called the concept of national economic circulation.

National economic circulation – is the process of movement of economic goods and Money between economic entities, ensuring the maintenance of the existence of each of them and the entire system as a whole. The main subjects in the national economy are firms and households, the public sector. Each of the macro-subjects is a set of real economic entities exhibiting certain types economic activity.

Households – These are relatively isolated economic units that own the factors of production. They offer factors of production, consume one part of the income received and protect the other.

Firms- These are relatively separate economic units in which factors of production are combined and finished products are produced in order to make a profit.

Government sector – the totality of all state institutions and institutions, produces public goods, pays social transfers to households and subsidies and subsidies to firms.

The movement of products and income in the national economy takes place in the form of a circular flow of goods, services, and money. A distinction is made between the basic circular flow and the circular flow including the financial market.

1. The flow of money and economic goods during the circulation is always equal in value (balanced) and opposite in direction.

2. Since the expense of one subject is the income of another and vice versa, all budgets turn out to be interconnected. In this regard, national economic turnover is often defined as a set of budgets economic entities in their interrelation.

No. 57. Gross national product and methods of its calculation. Nominal, real and potential GNP.

Gross National Product is the market value of final goods and services produced during the year by factors of production owned by citizens of a given country, regardless of their location.

There are three methods for determining the value of GNP:

End-use method - determining GNP as the amount of expenses;

The distribution method is the definition of GNP as the amount of income;

The production method is the definition of GNP as the sum of added values.

GNP by expenditure includes:

¾ personal consumption;

¾ gross investment;

¾ government procurement of goods and services;

¾ net exports.

GNP by income includes:

1. wage employees;

3. percent;

4. profit;

5. depreciation;

6. indirect taxes.

At production method GNP is calculated as the sum added value– that part of the final product that was added at each stage of production . Added value– the difference between the market value of goods and services produced and the cost of the intermediate product. Depending on whether price changes are taken into account or not, a distinction is made between nominal and real GNP:

- nominal is GNP calculated in current prices;

- real is GNP calculated in constant prices.

- potential GNP characterizes the possible volume of production with full use of resources. The difference between potential and actually produced real GNP characterizes the volume of underproduction, or deficit-GNP . Based on GNP the following are calculated:

Net national product - includes only net investment;

National income – total income, received by resource providers for their contribution to the creation of GNP;

Personal income – personal income earned individuals;

Disposable income is the personal income remaining after paying taxes. Method for calculating GNP by expenditure . GNP is defined as the sum of goods and services at the disposal of society in certain period time. GNP value is the monetary value of the final products and services produced during the year. In other words, it is necessary to sum up all costs for the acquisition (consumption) of the final product. GNP includes:

1. Consumer spending(WITH).

2. Gross private investment in the national economy (Ig).

3. State procurements goods and services (G).

4. Net exports Xn, which represents the difference between exports and imports.

Thus, the expenses listed here constitute GNP and show market value annual production. Hence, total GNP can be calculated using the formula: GNP = C + Ig + G + Xn

No. 58. National wealth, industrial and sectoral structure of the national economy.

National wealth - This is the totality of resources and other property of the country, which creates the possibility of producing goods, providing services and ensuring the lives of people. It includes:
1) non-reproducible property: agricultural and non-agricultural lands; minerals; historical and artistic monuments, works;
2) reproducible property: production assets(main and working capital); non-productive assets (property and inventories of households and non-profit organizations);
3) intangible property: intellectual property(patents, trade marks, objects copyright and so on.); human capital (service sector products embodied in knowledge, professional skills and public health, as well as in the effective institutional structure of society);
4) balance property obligations and requirements in relation to foreign countries.

In theoretical terms, the main features of the national wealth indicator (WW) are that it:
– all available in the country are taken into account economic benefits as of specific date, and not created over a certain period;
– a significant part consists of natural goods (land, minerals, etc.), which are not the result of economic activity person. Despite the “miraculous” nature of these riches, their value is associated with the level of economic development, and this relationship is very complex;
– only with the help of the national wealth indicator is an attempt made to comprehensively take into account intangible property.

Despite all the theoretical attractiveness of the NB indicator, its A full actual count is not carried out in any country in the world. The fact is that both the valuation of irreproducible property and the valuation intangible property is associated with very significant difficulties. In this regard, real assessments of NB usually take into account only those of its components, the value of which can be determined on the basis of business practice.

The structure of Russian national wealth looks like this: fixed capital makes up 90-95% of national wealth; the remaining part of the NB is approximately equal shares accounts for working capital and household assets.

In practice, the contradiction between the difficulty of calculating NB and its theoretical importance for assessing the key parameters of the national economy is resolved through a comprehensive analysis of the current indicators of the SNA system of national accounts and the components of NB available for assessment.

The basis for constructing SNA in international practice lies the idea of ​​the national economy as a system with a certain structure, with a certain impact of connecting links and elements. According to the SNA, the national economy can be presented structurally: by areas of activity and industries; as a set of institutional units by sector.

Grouping the economy by areas of activity and industries. Production boundaries are defined in the SNA as all activities of resident units of the national economy (including the activities of foreign and mixed enterprises that have a center of economic interests in Russia and operate in it on permanent basis) for the production of goods and services. Thus, the national economy is divided into two spheres: production of goods and production of services.

The classification of areas of activity by industry is determined All-Russian classifier species economic activity(OKVED). Industry economy can be defined as a set of qualitatively homogeneous groups business units, characterized special conditions production in the system of social division of labor and playing a specific role in the reproduction process. The sectors that produce goods include: industry, Agriculture And forestry, construction, other activities for the production of goods. The remaining industries are classified as service industries (market and non-market).

Grouping the economy by sector. According to SNA, sector is a set of institutional units that are homogeneous in terms of functions performed and sources of financing. The Russian SNA identifies the following: sectors of the national economy: non-financial enterprises (enterprises producing goods, except financial services); financial institutions; government agencies; non-profit organizations, serving households; households; foreign economic relations (“rest of the world”).

The grouping of institutional units by sector and their functions is presented in Table. 25.1.

Table 25.1

Institutional sectors of the economy and their functions

You won’t surprise anyone for a long time now with the presence of things from all over the world in the supermarket. If you wish, you can all year round buy bananas from South America, tea from Sri Lanka and coffee from Brazil. So every day we experience the impact of international trade. This is exactly how foreigners buy our products at home. The foreign trade balance is the difference between the value of what is exported from the country and what is imported into it. The larger it is, the better for the state. Although there are exceptions to this rule. About the foreign trade balance, its features and role in the assessment economic development we'll tell you today.

Definition of the concept

International trade allows you to expand markets for goods and services. It enables consumers to buy products that, in otherwise, would not be available to them. Globalization has connected almost all countries together. Foreign trade has come to the fore in terms of its significance. Only for closed economies, for example, the DPRK, is exclusively the internal exchange of goods and services important.

On practice

The largest exporters, when comparing their export of goods abroad with the gross domestic product of these countries, are Singapore (188%), Ireland (114%), United United Arab Emirates(98%), Malaysia (74%) and Switzerland (64%). However, this information does not say anything about the foreign trade balance. The country can export a lot and import on an extraordinary scale. And its trade balance will be negative. The balance is the difference between the volume of exports and imports. If we take these indicators into consideration, it turns out that Singapore, Ireland, the United Arab Emirates, Malaysia and Switzerland do have a positive trade balance. And negative - Brazil, Ethiopia, USA and Japan. The so-called neutral balance is characteristic of Argentina. Its exports in value terms are approximately equal to imports into the country.

Positive balance

Foreign trade succeeds in Lately grow at a much faster rate than production and gross domestic product. This means that the international component, due to globalization changes, has become fundamental for the development of national economies. Positive balance foreign trade occurs when exports in value terms exceed imports. There is an influx of national currency into the country from foreign markets. This situation is a favorable situation, so governments that regulate foreign trade strive for exactly this outcome. In the United States, trade balance data is published monthly by the Bureau economic analysis. This indicator is a fundamental factor in determining currency exchange rates in global markets. With a positive balance, the state has control over for the most part its monetary unit. A situation where exports exceed imports contributes to the strengthening of the country's national currency. Although other market factors are also important here. The exchange rate of the national currency also plays a big role foreign investment. If we talk only about trade effects, then a positive balance means a high demand for goods produced in the country. It promotes higher prices, strengthening the national currency. Further increase in exports only improves the situation.

Negative foreign trade balance

The opposite situation is a negative balance. A negative foreign trade balance means that the value of goods imported from abroad is greater than those exported from the country. This situation has the opposite effect on the exchange rate of the national currency. A negative trade balance means little demand for it on global markets. This reduces its exchange rate relative to other currencies. To regulate its volatility, countries can use a portfolio of investments in foreign accounts. Governments also sometimes peg their national currency to a more stable one. monetary unit another state. In this case, we are talking about a fixed exchange rate, which is not the difference between exports and imports.

Sometimes the relative balance of foreign trade is also calculated. It is the result of division balance sheet value by the number of inhabitants or gross domestic product. The second option is more often used.

Impact of trade balance

Many economists believe that a country's long-term negative balance has a negative impact on the national economy. This situation leads to the fact that manufacturers begin to locate their enterprises abroad. This further reduces the exchange rate of the national currency and leads to a fall interest rates. However, the country with the largest trade deficit is the United States of America. Therefore, when proper regulation it may not have any effect on the economy.

How will positive or negative balance, often depends on the stage of the business cycle. During an expansion, trade deficits can have a positive effect. This is due to the fact that many goods are imported into the country, which keeps prices low. It is better to have a positive trade balance during a recession. It helps create jobs by increasing demand for national goods.

Theoretical explanation

There are several concepts that explain the desire of states to enter the international market for goods and services. This issue was studied by such famous scientists as Adam Smith and David Ricardo. Historically, the first theory that tried to explain the importance of a trade surplus was marcantilism. They believed that exports should always exceed imports. Mercantilists welcomed protectionist measures. Gold and other luxury goods were generally not subject to export beyond national borders. Smith and Ricardo no longer considered trading as a game with zero sum. They developed the theory of absolute and comparative advantage. Among other concepts explaining international trade, developments by Heckscher and Ohlin, Lenotyev, Vernon, Porter, Stolper and Samuelson.

The basis of the balance of payments is the trade balance. The trade (foreign trade) balance characterizes the export and import of goods. The trade balance is positive if a country exports more goods and services than it imports from abroad. In this case, the trade balance has a surplus. If imports are greater than exports, then the trade balance is negative or in deficit. Therefore, changes in balance current operations associated with changes in domestic output and employment.

The trade balance is built on the basis of customs statistics, which takes into account the volume of goods actually crossing the border, while payment balance takes into account payments and receipts during foreign trade turnover, which may not coincide in time with the movement of goods.

Foreign trade balance of the country- the ratio of the value of goods exported and imported during a certain period of time (for example, for one calendar year). The foreign trade balance includes goods transactions actually paid for and carried out on credit. The foreign trade balance is compiled for individual countries and groups of states.

The trade balance has its own balance. Trade balance- this is an annual (quarterly or monthly) information indicator foreign trade transactions countries. If the trade balance has a positive balance, this means that monetary equivalent(commodity volume is converted into monetary value) more goods were sent abroad (export) than received from other countries (import). If the balance is negative, then the import of goods prevails over the export. A positive trade balance indicates the demand for a given country's goods. international market, and also that the country does not consume everything it produces. A negative trade balance indicates that the country, in addition to its goods, also consumes foreign goods. A negative trade balance in countries such as the USA and Great Britain helps contain inflation and maintain high level life due to the transfer of labor-intensive production outside the state.

In the United States, the trade deficit, according to the Bureau of Economic Analysis, will amount to $836 billion in 2006 (due to the consumption of cheap Asian and Mexican goods, as well as raw materials). In Russia, the positive trade balance in 2006 (according to the Central Bank) will amount to more than $120 billion (mainly due to the sale of energy resources and metals abroad). In underdeveloped countries, a negative trade balance indicates the uncompetitiveness of export sectors of the economy, which often leads to devaluation (depreciation) of the funds of such countries due to the fact that they cannot pay for import purchases. Countries such as the US and UK have capital-intensive and high-tech sectors of the economy, which attract significant amounts of capital from around the world in the form of portfolio or direct investment. However, due to the lack of competitiveness of export industries, these countries are forced to cover the bulk of the trade deficit by issuing private and government debt instruments.

Trade balance

The Trade Balance is the ratio of the value of goods exported outside the state (export) and the value of goods imported into the state (import). In other words, the trade balance reflects the difference between the price of exports and the price of imports over a certain period of time. The indicator characterizing the trade balance is the trade balance, which measures the dynamics of the state's foreign trade transactions.

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A positive trade balance is formed when total cost exported goods exceed the value of imported goods. In this case, they speak of a trade surplus. In fact, a positive balance indicates that in monetary terms the volume of exports exceeds the volume of imports, which indicates good demand for the country's goods on the international market. A positive balance has a beneficial effect on the growth of the national currency.

A negative balance, or passive trade balance, indicates a reverse trend. In underdeveloped countries, trade deficits may indicate the failure of export industries state economy withstand competition in the international market. This situation, as a rule, leads to the depreciation of government banknotes (devaluation). An increase in the negative balance leads to an increase in demand for foreign currency, while interest in national currency decreases noticeably.

The trade balance is one of the few economic indicators that have a direct impact on exchange rates.