Distinction between Balance on trade account and Balance on current account

Balance on trade account records the difference between value of exports and imports of material goods (visible items). Balance on current account records the difference between receipts and payments of foreign exchange on account of goods, services and unilateral transfers (visibles and invisibles). (ii) Clearly, BOT account is a part of balance on current account, and therefore, a narrow concept as compared to balance on current account which is a wider concept.