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How to analyze a country's balance of payment position?

发布时间：2025-03-18 19:35:01

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答案：【计分规则】: The analysis of a country's balance of payment position mainly analyzes several partial balances, including trade balance, current account balance, capital account balance, financial account balance and the overall balance. （1）The trade balance is the balance between the import and export of goods and services, which is an important indicator to reflect a country's balance of payments in the short term. （2）The current account balance is the sum of the balance between the goods and services account, the primary income account and the secondary income account. The balance is in the credit, which indicates that the current account is in surplus, the opposite is in deficit. The current account balance includes not only trade balance, but also income and current transfer account balance which is a more comprehensive and important indicator of reflecting a country's balance of payments position. （3）The capital account balance is the balance between non-produced、nonfinancial assets accounts and capital transfer accounts. The balance is in the credit which indicates that the capital account is in surplus, the opposite is in deficit. （4）The financial account balance is the balance between accounts for direct investments, portfolio investment, financial derivatives and employee stock options, other investments and reserve assets, which reflects a country’s capital inflow and outflow position. The balance is in the credit which indicates that the financial account is in surplus, there are net capital inflows; the opposite is in deficit, there are net capital outflows. Because financial account balance has reversible characteristic, it is the unstable part of the balance of payments. Therefore, it is less important than current account balance. (5) The overall balance is the financial account balance of current account and capital account after excluding the reserve asset account. The non-reserve financial account of China’s Balance of Payment Presentation is the balance that the balance of three accounts pluses the balance of net errors and omissions account. Because the reserve asset account is placed offline, the overall balance is the balance including most online accounts. Therefore, the overall balance and the reserve asset account balance have a relationship of equal amounts and opposite direction. That is to say, we can directly judge a country's balance of payments position according reserve asset account. If the reserve asset account has debit balance, the overall balance is credit balance, which shows that a country’s balance of payments is in surplus. In the contrary, a country’s balance of payments is in deficit. In generally, we say whether a country's balance of payments is in surplus, deficit or equilibrium, which refers to overall balance.