Unit 7 May 9

Balance of Trade 
goods(exports)+ Goods(imports)

Balance of Goods: Services 
goods(exports)+service(exports) -- goods(imports)+service(imports)

Current Account
Balance of Goods: Services(#2) + Net Investments + Net Transfers 

Capital Account 
investments
stocks+bonds

Official Reserves 
current account(+,-)  + capital account (-,+) = 0 theoretically