External transactions and accounting conventions
- Merchandise trade balance
- Current-account components
- Textbook capital flows versus the statistical capital account
- Above-line and financing items depend on the analytical presentation
- Reserve purchases and sales in external financing
- Double-entry balance-of-payments accounting
- Capital transfers differ from current income transfers
- Nonproduced nonfinancial asset transfers belong to the capital account
- Financial-account flows change external claims and liabilities
- Net errors and omissions reconcile imperfect transaction data
- The international investment position measures external asset and liability stocks
- Valuation and other changes reconcile transactions with closing positions