Balance of payments statistics cover transactions for the most part between residents and non-residents. Transactions included comprise: goods, services and income; those involving financial claims on, and liabilities to the rest of the world; and those classified as transfers which involve offsetting entries to balance (in an accounting sense) one-sided transactions.

Balance of payments statistics are a key economic indicator due to the close relationship between domestic economic and external developments. The strength of this relationship has strengthened over the last two decades with the growing interdependence of the world's economies and movement towards greater trade liberalisation and market integration.

Balance of payments and related trade and financial statistics are used by agencies responsible for the formulation of policy on issues such as causes of payments imbalances, adjustment measures, merchandise trade, trade in services, financial flows, etc.

OECD balance of payments statistics are compiled by national agencies using the IMF's Balance of Payments Manual, 5th edition (BPM5), the current international standard. Data are collected directly by the OECD from national central banks and national statistical institutes. The concepts in BPM5 are harmonised as much as possible with revised System of National Accounts 1993.