No, the measures of controlling the trade deficit and the balance of payment are not the same as trade deficit as trade deficit is the excess of imports over the exports. It only relates to export and import of goods. It is a narrower concept.

Balance of payments is a systematic record of all the transactions that are undertaken by the residents of a country with the rest of the world. It includes transaction by corporate, individuals and the government. It monitors the flow of funds. It is a wider concept.

The measures to control the balance of payment are monetary policy, devaluation, foreign loans, encourage foreign investment and providing incentives to foreign tourist. These measures cannot be applied to control the trade deficit as they do not concern the export and import of goods. The government's fiscal policy is used in order to correct the deficit in trade balances.