Write the relationship between these items e.g come up with an equation that summarises the relationship.

The Balance of Payments Account Current Account (1) Balance of trade in goods . (2) Balance of trade in services (3) Net primary income interest, profits, dividends and migrant remittances) . (4) Net secondary income contributions to EU, military aid, overseas aid) Capital account Sale/transfer of patents, copyrights, franchises, leases and other transferable contracts, and goodwill Transfers of ownership of fixed assets Financial Account - includes transactions that result in a change of ownership of financial assets and liabilities between UK residents and non-residents Net balance of foreign direct investment flows (FDI) Net balance of portfolio flows (e.g. inflows and outflows of debt and equity) Balance of banking flows (eg, hot money flowing in/out of banking system) Balancing item (estimated errors & omissions) Changes to the value of reserves of gold and foreign currency Overall balance of payments = zero The Balance of Payments Account Current Account (1) Balance of trade in goods . (2) Balance of trade in services (3) Net primary income interest, profits, dividends and migrant remittances) . (4) Net secondary income contributions to EU, military aid, overseas aid) Capital account Sale/transfer of patents, copyrights, franchises, leases and other transferable contracts, and goodwill Transfers of ownership of fixed assets Financial Account - includes transactions that result in a change of ownership of financial assets and liabilities between UK residents and non-residents Net balance of foreign direct investment flows (FDI) Net balance of portfolio flows (e.g. inflows and outflows of debt and equity) Balance of banking flows (eg, hot money flowing in/out of banking system) Balancing item (estimated errors & omissions) Changes to the value of reserves of gold and foreign currency Overall balance of payments = zero