The balance of payments is the total value of a country's exports minus the total value of its imports.

Name: The balance of payments is the total value of a country's exports minus the total value of its imports.
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The balance of payments is a comprehensive record of all economic transactions between residents of a country and the rest of the world, including trade, investment, and financial transfers, not just exports minus imports.

The Balance of Payments Is the Total Value of a Country's