The balance of payments of a country is a systematic record of all economic transactions between residents of that country and residents of other countries over a year. It includes goods, services, unilateral transfers, long term capital, short term capital, and international liquidity accounts. In the example provided, the country has a surplus on its balance of trade, current account, basic balance, and overall balance of payments.

1. BALANCE OF PAYMENTS
BOP of any country is a systematic record of all economic transactions
between the residents of a given country and of the residents of the rest
of the world in an accounting period viz a year.
Major Accounts
A Goods Account
B Services Account
C Unilateral Transfer Account
D Long Term Capital Account
E Short Term Capital Account
F International Liquidity Account

2. BALANCE OF PAYMENTS
1 Balance of Trade
2 BOP on Current Account
3 BOP on Capital Account
4 Basic Balance
5 Overall BOP

3. BALANCE OF PAYMENTS – (MN $)
MAJOR ACCOUNTS CREDIT
(RECIEPTS)
DEBIT
(PAYMENTS)
NET SURPLUS
OR DEFICIT
A Goods Account 200 180 +20
B Services account 100 250 -150
1 Balance of Trade (A+B) 300 430 -130
C Unilateral Transfer Acc 300 120 +180
2 BOP on Current Account
(A+B+C)
600 550 +50
D Long Term Capital Acc 150 120 +30
3 Basic Balance
(A+B+C+D)
750 670 +80
E Short Term Capital Acc 50 40 +10
4 BOP on Capital Acc
(D+E)
200 160 +40
5 Overall BOP (2+4) 800 710 +90
F International Liquidity Acc 90
6 BOP Accounting Balance 800 800 0