Payments in foreign economic activity as economic category in the system of international economic relations

Abstract

A foreign economic activity is a perspective direction of business entities and is essential for country's economic growth as a whole. The research in the field of theoretical grounding of essence of the concept "payments in foreign economic activity" is the basis for the formation of conceptual and categorical apparatus of international economic relations. Therefore, the relationship of concepts "settlements", "liabilities", "debt" and "payments" from an economic and accounting points of view has been analysed in the study. This became the basis for research the concepts of "international settlements" and "settlements in foreign economic activity", which have been demarcated. It is suggested to use settlements in the foreign economic activity in the system of international economic relations for explanation settlement transactions at business-foreign economic activity entities. In its turn, international payments characterize multinational payment transactions that occur between organizations and institutions of international activities. Thus, it is proved that international payments are broader and include settlements in foreign economic activity.

Keywords

• payments in foreign trade
• international payments
• liabilities
• debt
• payments