Balance of Payments

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5 Terms

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Balance of Payments (BOP)

The balance of payments is a systematic record of all financial transactions between a country's residents and the rest of the world during a specific period.

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Current account

Records exports and imports of goods and services, income received and paid, and current transfers

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Capital transfer account:

Records capital transfers and transactions involving non-produced, non-financial assets.

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Financial account

Records changes in foreign assets and liabilities, including foreign direct investment, portfolio investment and loans