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What Is the Balance of Payments?

What Is the Balance of Payments? Norman S. FielekeVice President and EconomistFederal Reserve Bank of BostonFederal Reserve Bank of BostonJuly 1976cRevised August 1985 and October 1996 Last revised in 1996, this monograph does not reflect significant changes in the Balance of payments accounts made in 1999. For further information on these changes, see Christopher L. Bach, " International Transactions, Revised Estimates for 1982-98," Survey of Current Business, July 1999, pp. Transactions between Residents andForeign Residents (In millions of dollars)LineAccountDebitsCreditsExcess ofDebits (2)orCredits (1)1 Exports of goods and services, and incomereceived601602 Goods(1) 491493 Services(1) 1114 Income on investments abroad(3) 101105 Imports of goods and services, and income paid702706 Goods(4) 652657 Services(5) 5258 Income on foreign investments in transfers(6) 12110 Changes in claims on official reserve assets12 Gol

What Is the Balance of Payments? Norman S. Fieleke Vice President and Economist Federal Reserve Bank of Boston Federal Reserve Bank of Boston July 1976 c Revised August 1985 and October 1996 Last revised in 1996, this monograph does not reflect significant changes in the U.S. balance of payments accounts made in 1999.

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