definitions Balance of payments

Balance of payments

Net value of all economic transactions-including trade in goods and services, transfer payments, loans, and investments-between residents of the same country and those of all other countries. The International Money Fund’s accounting system that tracks the flow of goods, services, and capital in and out of each country. It is a list or accounting, of all of a country's international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; payments out of the country (payments) are entered as negative numbers called debits. A single number summarizing all of a country's international transactions