Balance Of Payments Account
Balance Of Payments Account is the difference between all money flowing into a region in a particular period of time and the outflow of money to the rest of the world. The balance of payments has been an integral part of the national accounts since the 1950s.
In the Use Table, transactions are recorded at Purchaser Prices. In the Supply Table, domestic production is recorded at Basic Prices and imports by type of product at cost, insurance and freight (CIF) prices. In the System of National Accounts and the balance of payments, total imports of goods are valued at free on board (FOB) prices.
- United Nations, System of National Accounts, 2008