You're both kind of right, just that there's a difference between the current account (trade) and capital account (cross-border investment flows). In the curre

You're both kind of right, just that there's a difference between the current account (trade) and capital account (cross-border investment flows). In the current account you're just looking at the value of goods and services going each way across the border. In the capital account you're looking at investment going one way and the returns flowing back.