DEFINITION
Balance of Payments (BOP)

Goods on a Census basis are adjusted by the Bureau of Economic Analysis to goods on a BOP basis to bring the data in line with the concepts and definitions used to prepare the international and national accounts. Broadly, the adjustments include changes in ownership that occur without goods passing into or out of the customs territory of the United States. These adjustments are necessary to supplement coverage of the Census basis data, to eliminate duplication of transactions recorded elsewhere in the international accounts, and to value transactions according to a standard definition. (See more at Guide to Foreign Trade Statistics.)

Loading conversations.
Similar or Related Terms
Statistics
541
Characters
98
Words
29.69
Flesch Reading Ease
15.2
Flesch Kincaid Grade