4.1 - Balance of Payments Flashcards
1
Q
What is the balance of payments?
A
Record of all financial transactions between consumers, businesses + govt (Domestic + Foreign)
2
Q
Give 3 inflows of money into the UK
A
Exports
FDI
Tourism
3
Q
Give 3 outflows of money from the UK
A
Remittances
Foreign aid
Imports
4
Q
What does the financial account consist of?
A
Net balance of FDI flows
Net balance of portfolio flows
Balance of banking flows
Changes to value of gold + foreign currency reserves
