What significance does the financial accounts in the balance of payments have?
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The current account is a reflection of the country's current trade balance, combined with net income and direct payments, and measures the import and export of goods and services. When combined with the financial and capital accounts, the three accounts form a country's balance of payments.
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Transactions in the capital account have no impact on a country's production levels, the rate of savings, or overall income. The current account is a reflection of the country's current trade balance, combined with net income and direct payments, and measures the import and export of goods and services.
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