Balance of payments

A country's accounting record of all economic transactions with the rest of the world, split into current account and capital/financial account.

The balance of payments must mathematically sum to zero: every current-account surplus is matched by an outflow of capital (foreign-asset accumulation), and every deficit is matched by inflow (borrowing or foreign investment). Compiled by central banks and the IMF, BoP data is more comprehensive than goods trade alone but less timely.