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 External Sector  

The external sector of the economy refers to the international transactions that all residents of the country (private and public sector) conduct with the rest of the world. Such transactions are systematically recorded in detail within a framework that groups them into accounts, where each account represents a separate economic process or phenomenon of the external sector. The external accounts form part of an integrated system of statistics of the economy, and thus all definitions, classifications and accounting rules must be harmonized so that external sector aggregates can be compared and summed with other macroeconomic data, such as those of national accounts, monetary statistics and government statistics. There are four basic external accounts:

1) Balance of Payments

2) International Investment Position

3) External Debt

4) Reserve Assets

Special issues:

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