Recurrent items include: trade in goods, trade in services, intellectual property rights, and transfer payments.

(1)?Trade in goods:

Trade in goods refers to the sale and purchase of goods between a country and other countries. This includes exported and imported physical products such as raw materials, finished products, agricultural products, etc. Trade in goods is the most important part of the current account and plays an important role in a country's economic growth and development.

(2)?Service trade:

Service trade refers to various services provided by a country to other countries. This includes travel services, financial services, consulting services, educational services, etc. The growth of service trade can promote the country's economic development and enhance the country's international competitiveness.

(3) Intellectual property rights:

Intellectual property rights refer to the income generated by a country’s intellectual property rights in the international market. This includes patents, trademarks, copyrights, etc. The flow of intellectual property can bring about technology transfer and technology introduction, and promote the development of the national economy.

(4)? Transfer payment:

Transfer payment refers to the free transfer payment between one country and other countries. This includes international aid, free donations, etc. Transfer payments have no direct economic benefits for a country's economic development, but are of great significance for improving living conditions in poor areas and promoting cooperation between countries.

Definition of current account

Definition

Current account refers to items that frequently occur during economic transactions between the country and foreign countries. It is the most important item in the balance of payments. Items include foreign trade balance, non-trade transactions and free transfers.

Foreign trade receipts and payments refer to the foreign exchange receipts and payments incurred through the import and export of goods through the country’s customs. Non-trade transactions, also known as labor revenue and expenditures or intangible trade revenue and expenditures, include freight, port supply and labor services, tourism revenue and expenditures, investment revenue and expenditures and other non-trade transactions.

Free transfers include mutual free assistance and donations between the country, international organizations and foreign governments, as well as private remittances and other income of residents.