Main components

The main categories of transactions included in the balance of payments refer to goods, services, primary income and secondary income (former current transfers), the capital account (capital transfers), and the financial account.

The individual balances on goods, services, primary income and secondary income together make  up the current account balance.

The sum of the balances on the current account and the capital account should theoretically add up to the financial account.

However, this is not the case in practice, due to statistical discrepancies , captured by the balancing item of “Errors and omissions”.

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