Exports and imports can be divided into:
- exports and imports of goods (balance of trade in goods)
- exports and improrts of services (balance of trade in services)
Non-trade items in the current account:
Net Income - - profits flowing ot UK companies from their investment in other countries, MINUS net profit outflows repatriated to foreign companies from their investment in the UK. Also included are net interest payments, comprising interest received by British banks on loans they have granted overseas, MINUS interest payments flowing to overseas banks from their loan to clients in the UK
Net transfers - Outwards transfers from the UK are UK foreign aid and income sent overseas by immigrant workers in the UK to their families living in their countries of origin. An inwards transfer would be money paid by overseas government for the upkeep of their embassies in the UK
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