The balance of payments is divided into three major accounts, the:

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The balance of payments is divided into the current account, financial account and the capital account. The current account summarizes the transactions of goods and services, income flows and unilateral transfers between a country and the rest of the world. The financial account records international purchases and sales of assets and the capital account reflects the changes in a country's ownership of foreign assets and foreign ownership of domestic assets. The cash account is not a part of the balance of payments.

The Balance of Payments Is Divided into Three Major Accounts