Plain-English definitions for the terms you'll encounter on your financial journey.
A comprehensive record of all economic transactions between residents of a country and the rest of the world. It includes the current account and the capital account.
A record of all of a country's international transactions, including trade in goods and services, investment income, and cash transfers. It is one half of the balance of payments.
A broad measure of a nation's trade that includes its imports and exports of goods and services, as well as net income from abroad and transfer payments. It shows whether a nation is a net lender or borrower relative to the rest of the world.