BALANCE OF PAYMENTS

Pronunciation (US): (GB):

Meaning:

A system of recording all of a country's economic transactions with the rest of the world over a period of one year

Example:

a favorable balance of payments exists when more payments are coming in than going out

Synonyms:

balance of international payments; balance of payments

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("balance of payments" is a kind of...):

accounting (a system that provides quantitative information about finances)

Meronyms (parts of "balance of payments"):

capital account ((economics) that part of the balance of payments recording a nation's outflow and inflow of financial securities)

current account (that part of the balance of payments recording a nation's exports and imports of goods and services and transfer payments)