What are the transactions that the balance of payments accounts record?
The current account records receipts from exports of goods and services sold abroad, payments for imports of goods and services from abroad, and capital flows.
It is one of the two components of its balance of payments, together with the capital account (also known as the financial account). A current account is a bank or savings account that you can access personally and withdraw money from whenever you need to using a checkbook or cash card. He had a substantial amount of money owing. The current account is the difference in value between an economy's exports and imports over a certain time period.
To learn more about capital flows, click here.
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