|balance of payments|
|the difference over a given time between total payments to foreign nations, arising from imports of goods and services and transfers abroad of capital, interest, grants, etc, and total receipts from foreign nations, arising from exports of goods and services and transfers from abroad of capital, interest, grants, etc|
The relationship between the payments made by one nation to all other nations and its receipts from all other nations.
Note: A nation whose payments exceed its receipts is said to be running an unfavorable balance of payments, which can affect the value of its currency in foreign countries. (See foreign exchange.)