Deficit: 1, the balance of payments deficit leads to the decline of the exchange rate, and the intervention of the foreign exchange market after the exchange rate decline leads to the reduction of a country's foreign exchange reserves.

2, the balance of payments deficit leads to a decline in the exchange rate, and the government's tight monetary policy will raise interest rates, affect economic growth, increase unemployment and reduce national income.

Surplus: 1, the balance of payments surplus will make the exchange rate rise, export decline, and then unemployment increase.

2. Excess leads to the increase of money supply and serious inflation.

3. Surplus makes other countries deficit and intensifies trade friction.

4. Surplus will lead to excessive export and reduce domestic available resources.