What are the major component of BOP?

The Balance of Payments (BOP) consists of three major components: the current account, the capital account, and the financial account. The current account includes trade in goods and services, income transfers, and current transfers. The capital account records transactions involving the transfer of ownership of fixed assets and non-produced, non-financial assets. The financial account tracks investments in foreign assets and foreign investments in domestic assets, reflecting changes in ownership of international financial assets and liabilities.