Definition: Resident institutional unit

Category: Balance of Payments, IMF

The sectors of an economy are composed of two main types of institutional units: (i) household and individuals who make up a household and (ii) legal and social entities, such as corporations and quasicorporations (e.g., branches of foreign direct investors), non-profit institutions, and the government of that economy. These institutional units must meet certain criteria to be considered resident units of the economy. http://ec.europa.eu/eurostat/ramon/statmanuals/files/BoP_Manual_Fifth_Edition_EN.pdf