Several economic forces may have an impact on the balance of payments of a specific nation. Among these economic factors are the inflation rate, real growth in gross national product (GNP), interest rates, and the spot exchange rate (or current rate for exchanges of currency that day). For example, inflation may lead to price level increases, which make domestic goods and services relatively too expensive for non domestic buyers. Exports will become less competitive and imports will become more attractive to domestic consumers. As exports decline and imports rise, the balance of trade sector in the balance of payments may become negative, and if this trade deficit is not balanced by capital inflows, the basic balance of the balance of payments may be in deficit. The basic balance is essentially the balance of all current and capital account items including merchandise exports and imports, travel and transportation, current investment income inflows and outflows, and private long-term investment inflows and outflows.
　　有好幾種經濟力對某一國家的國際收支有影響。在這些經濟因素中有通貨膨脹率、國民生產總值的實際增長、利率、以及即期匯率（或當天貨幣的實時匯率）。例如，通貨膨脹可能會導致價格水平的上升，使得非本國的購買者所購買的商品和勞務相對較貴。出口的競爭力會減弱，進口對本國消費者更有吸引力。隨著出口的下降，進口的增加，國際收支平衡表中的貿易行業(yè)的差額可能成為負數(shù)，而且，如果這個貿易赤字不能由資本輸入來平衡的話，那國際收支平衡表的基本差額就會出現(xiàn)逆差�；�本差額主要是所有經常項目和資本項目，包括商品出口和進口、旅游運輸，當期投資收入流進流出、以及私人長期投資流入和流出。
　　High rates of growth in GNP tend to cause consumers to import more goods and services from abroad. Higher GNP pushes personal income up and if, as in the United States, consumers have a high propensity to import because of relatively higher incomes, imports may increase faster than exports, causing a dampening effect on the balance of payments. Lower GNP will usually result in lower imports of goods and services.
　　國民生產總值（GNP）的高速增長易使消費者從國外進口更多的商品和勞務。較高的GNP會使個人的收入增加，如在美國，由于相對較高的收入，消費者有較高的進口傾向，這樣，進口比出口增長得快，對國際收支產生抑制作用。較低的GNP通常導致商品和勞務進口的減少。
　　Interest rates influence foreign investments in money and capital market instruments in a given country. If a country has high real interest rates relative to other countries, it will experience high inflows of funds for investment in financial instruments, as was the case in Germany in 1994. When real interest rates decline in a country, as in the United States during 1992-94, capital outflows occur and the basic balance deficit may increase. Expectations about the level of future interest rates may also have an impact on investment flows into and out of a country.
　　利率影響對某一國家貨幣市場與資本市場工具的對外投資。如果一國相對于其他國家真實利率較高，該國將會經歷較高的資金流入投資于金融工具，在1944年德國發(fā)生過這種情況。當一國真實利率下降，如在1992-1994年期間的美國，發(fā)生資本流出，基本項目收支逆差可能會增加。關于未來利率水平的預期也可能對投資從一國的流入和流出產生影響。
　　Spot exchange rates influence the relative cost of imports vis-a-vis domestic goods and the relative cost of exports vis-a-vis foreign goods in importing countries. Relatively high exchange rates of the foreign currency compared to the domestic currency discourage imports and encourage exports, as in the case of the United States and Japan. The dollar has declined against the yen, making Japanese goods less attractive to U.S. consumers and U.S. goods and services more attractive to Japanese consumers. If the domestic currency appreciates against the foreign currency, export prices to foreigners will be less attractive and import prices to domestic citizens will be more attractive.
　　即期匯率影響進口對國內商品的比較成本和進口國家出口對外國商品的比較成本。與本國貨幣相比，較高的外幣匯率阻礙進口，鼓勵出口，這種情況在美國和日本都發(fā)生過。美元對日元匯率下降，使得日本貨對美國消費者的吸引力下降，美國的商品和勞務對日本消費者更有吸引力。如果本幣對外幣匯率下跌，出口商品價格對外國人的吸引力較低，對本國居民的進口商品價格有更大的吸引力。