Revenues

For many countries, the current account is limited to the items discussed above relating to exports and imports of goods and services. However, in addition to goods and services, the current account of the balance of payments should also take into account the movement of income and current transfers. Income – a group of items […]

Total personal income

To calculate the total amount of personal income, it is necessary to deduct from the NNP the savings of corporations to add to the remaining amount all types of transfer payments. If all taxes were deducted from the amount obtained in this way, then the total personal income would be identical to personal income after […]

Newly Industrialized Countries (NIS)

This 1st subgroup includes young states, which in terms of socio-economic development are closely close to the group of developed countries of the world. They came to the forefront of the world economy in the 60-80s as a result of the placement in them by large transnational companies of a number of relatively labor-intensive, although […]