Current account

The current account shows flows of goods, services, primary and secondary income between resident and non-residents. It is an important group of accounts within the balance of payments.

Goods cover all moveable goods for which changes of ownership (between residents and non-residents) occur (e.g. general merchandise).

Services cover services produced through an arrangement made between a producer resident in one economy and a consumer or group of consumers in another, prior to the time production occurs (e.g. manufacturing service, travel and financial services).

Primary income represents the return that accrues to resident institutional units for their contribution to the production process or for the provision of financial assets and renting natural resources to non-resident institutional units (e.g. compensation of employees, dividends and interest).

Secondary income pertains to those current transfers between residents and non-residents that directly affect the level of gross national disposable income and thus influence the economy’s ability to consume goods and services (international cooperation and workers’ remittances).