BOP 2022

In the fourth quarter of 2022, China's current account registered a surplus of 759.0 billion yuan ($110.45 billion), including a surplus of 1166.8 billion yuan under trade in goods, a deficit of 204.4 billion yuan under trade in services, a deficit of 223.1 billion yuan under primary income, and a surplus of 19.8 billion yuan under secondary income. In thecapital and financial accounts, foreign direct investments recorded a deficit of 115.7 billion yuan, and reserve assets increased by 301.5 billion yuan.

In 2022, China's current account registered a surplus of 2821.0 billion yuan, including a surplus of 4624.0 billion yuan under trade in goods, a deficit of 640.5 billion yuan under trade in services, a deficit of 1299.2 billion yuan under primary income,and a surplus of 136.7 billion yuan under secondary income. In thecapital and financial accounts, foreign direct investments recorded a surplus of 183.8 billion yuan, and reserve assets increased by 683.8 billion yuan.

In the US dollar terms, in the fourth quarter of 2022, China's current account recorded a surplus of $106.8 billion, including a surplus of $164.1 billion under trade in goods, a deficit of $28.8 billion under trade in services, a deficit of $31.3 billion under primary income, and a surplus of $2.8 billion under secondary income. In the capital and financial accounts, foreign direct investments recorded a deficit of $16.3 billion, and reserve assets increased by $42.3 billion.

In the US dollar terms, in 2022, China's current account recorded a surplus of $417.5 billion, including a surplus of $685.6 billion under trade in goods, a deficit of $94.3 billion under trade in services, a deficit of $194.2 billion under primary income, and a surplus of $20.5 billion under secondary income. In thecapital and financial accounts, foreign direct investments recorded a surplus of $32.3 billion, and reserve assets increased by $100.0 billion.

In SDR terms, in the fourth quarter of 2022, China posted a surplus of SDR 81.9 billion under the current account,including a surplus of SDR 125.9 billion under trade in goods, a deficit of SDR 22.0 billion under trade in services. In thecapital and financial accounts, foreign direct investments recorded a deficit of SDR 12.4 billion, and reserve assets increased by SDR 32.5 billion.

In SDR terms, in 2022, China posted a surplus of SDR313.4billion under the current account, including a surplus of SDR 513.9 billion under trade in goods, a deficit of SDR 71.0 billion under trade in services. In the capital and financial accounts, foreign direct investments recorded a surplus of SDR 21.6 billion, and reserve assets increased by SDR 75.4 billion.

The balance of payments (BOP), also known as balance of international payments, summarizes all transactions that a country's individuals, companies, and government bodies complete with individuals, companies, and government bodies outside the country. These transactions consist of imports and exports of goods, services, and capital, as well as transfer payments, such as foreign aid and remittances.

The balance of payments divides transactions into two accounts: the current account and the capital account. The current account includes transactions in goods, services, investment income, and current transfers. The capital account, broadly defined, includes transactions in financial instruments and central bank reserves. Narrowly defined, it includes only transactions in financial instruments.