Balance of payments on the current account
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4 Terms
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Balance of payments
A record of all the flows of money between the residents of one country and the rest of the world
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Balance of payments on the current account
The section of the balance of payments that records international trade in goods, services, primary income & secondary income
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Balance of trade in goods and services
The value of exports of goods & services minus the value of imports of goods & services. If this is positive, there is a trade surplus, if it is negative there is a trade deficit.
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