The balance of Payments

These are the accounts used in the balance of payments

• Current Account

1. Net export/imports of goods (balance of trade)
2. Net exports/imports of services
3. Net income (investment income from direct and portfolio investment plus employee compensation)
4. Net transfers (sums sent home by migrants and permanent workers abroad, gifts, grants, and pensions)

• Capital Account

1. Capital transfers related to the purchase and sale of fixed assets such as real estate

• Financial Account

1. Net foreign direct investment
2. Net portfolio investment
3. Other financial items

• Net Errors and Omissions

1. Missing data such as illegal transfers

• Reserves and Related Items

1. Changes in official monetary reserves including gold, foreign exchange and IMF position.