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Monetary transactions involve a cash flow (such as a payment, acquisition of an asset, or incurrence of a liability) whereas nonmonetary transactions are not initially stated in units of currency (such as barter or in-kind transactions). Nonmonetary transactions must first be assigned monetary values before they can be recorded in macroeconomic statistics. Both types of transactions can take the form of exchanges or transfers, and nonmonetary transactions can also be internal transactions. Exchanges are bilateral transactions with one unit providing and another unit receiving goods, services, assets, or labor. Transfers are transactions in which a unit provides to another without receiving anything in return. Internal transactions take place when a single institutional unit acts in two different capacities. This video explores monetary and nonmonetary transactions and illustrates these concepts with examples. Sources: System of National Accounts 2008 https://unstats.un.org/unsd/nationala... Government Finance Statistics Manual 2014 https://www.imf.org/external/Pubs/FT/... Balance of Payments and International Investment Position Manual 6th edition https://www.imf.org/external/pubs/ft/... Monetary and Financial Statistics Manual and Compilation Guide, 2016 https://www.imf.org/~/media/Files/Dat... External Debt Statistics: Guide for Compilers and Users, 2014 http://tffs.org/pdf/edsg/ft2014.pdf Link to the IMF online course on compilation basics of macroeconomic statistics for government officials: https://www.imf.org/en/Capacity-Devel... Link to the IMF online course on compilation basics of macroeconomic statistics for members of the general public: https://www.edx.org/course/compilatio...