Mr. Melkonian

used to keep track of international payments/receipts

current account, capital/financial account

goods, services, investment 

raw materials, processed or manufactured goods

tourism, transportation, management/consulting, govt. assistance to other nations

dividends and interest earned from investment in Canada and abroad

surplus in that regard

foreign investors making more money off Canada than Canadians... HUGE gap

causes Canada to go into deficit

subdivided into 2

includes: migrants' funds, inheritance, govt. pension

inheritance from out of town to you vs snowbird in florida collecting pension

Direct investment from Canadians (CDI) foreigners in Canada (FDI)

investors receive dividends on stocks/bonds but don't control a comany

foreign currency (mostly US) and gold - we keep it for rainy days (Bank of Canada)

as much as possible we want inflows/outflows pretty close together