International transactions accounts (ITAs)

Part of BEA’s international economic accounts, the ITAs summarize transactions between U.S. residents and foreign residents. The ITAs consist of three accounts: the current account records trade in goods and services, receipts and payments of income, and current transfers; the capital account records capital transfers, such as debt forgiveness and the acquisition or disposition of nonproduced nonfinancial assets; and the financial account records transactions for official assets, for U.S. government assets other than official reserve assets, for direct, portfolio, and other investment, and on a net basis, transactions for financial derivatives. Also referred to as “Balance of payments accounts.”