and what is its definition? The balance of payments represents monetary transactions between one country and another in a given fiscal year. It includes imports and exports of goods and services, investments, donations, and remittances.

Thus, the balance of payments is divided horizontally (imports and exports of goods and services, investment income, and foreign currency reserves) and vertically (credits – inflows of funds; debits – outflows of funds). In other words, it is the balance between exports to and imports from a country, and the difference between exports and imports represents the balance of payments. The balance of payments is divided into trade and payments. [An integral part of the balance of payments is the financial balance. The financial balance of payments represents the balance of direct investment, its portfolio, financial derivatives, and other capital, both short- and long-term.
Current account balanceThe difference between imports and exports, service income, investment income, and government expenditures on individuals (unemployment benefits, various benefits, etc.)
Capital account balanceTransactions related to the purchase of securities and equipment for industrial production purposes.
Errors and omissions, the latter capturing various deviations due to incomplete information.
The Czech National Bank\’s foreign currency funds have been increasing over the past few years, and the Czech Republic\’s balance of payments is in surplus.

Last year\’s balance of payments
At the end of last year, the external trade balance was SEK 11.7 billion (surplus), but agricultural products and metals reduced it by SEK 3.7 billion.
Specific data for last year as well as previous years are available on the Ministry of Industry and Trade website, at the Bureau of Economic Analysis, or in tables in the Statistical Yearbook provided by the Czech Statistical Office.