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What the balance of payments records

What the balance of payments records

Flowchart showing the balance of payments split into current account, capital account, financial account, and net errors and omissions, with the current account branching to trade in goods, trade in services, primary income, and secondary income, plus a note that credits are payments into the country and debits are payments out

The balance of payments is the record of all economic transactions between residents of a country and the rest of the world over a period, usually a year. It includes trade, income flows, transfers and financial flows, so it is wider than trade alone.

2.1.4 Balance of payments Lesson

  1. A Level
  2. /Economics
  3. /2.1.4 Balance of payments