Introduction to BOP Framework, Structure, & Definitions

BOP statistics defines a set of components which are grouped into accounts, according to their nature. The balance of payments consists of two main accounts, the Current Account and the Capital and Financial Account, which record the flows between one country and the rest of the world. Together with the International Investment Position, which includes the balance of assets and liabilities, and the changes in the balance sheets between any two points of time, the BOP statistics makes a closed system.