What is the main factor of the balance of payments?

The main factor of the balance of payments is the difference between a country's exports and imports of goods and services. This is known as the trade balance, and it is a key component of the overall balance of payments. Other factors that can affect the balance of payments include foreign investment, remittances, and transfers of funds between countries.

Current Account: This component records the value of all goods and services imported and exported, as well as net income from investments and net transfers (e.g., remittances).