Balance of Payments
a system of recording all of a country's economic transactions with the rest of the world over a period of one year
Current account
that part of the balance of payments recording a nation's exports and imports of goods and services and transfer payments
balance of trade and goods and services transfer payments (i.e remittances) income from investments like interest
Capital account
that part of the balance of payments recording a nation's outflow and inflow of financial securities
transaction of non produced assets like land capital transfers like inheritance tax
Financial account
the part of the BOP that measure net change in foreign ownership of domestic finanical assets
foreign direct investment tracks long term investments into property, businesses by multinational corporations portfolio investment into stocks and bonds reserve assets of foreign exchange