The Last Agent: ROW

Since in macroeconomics we are analyzing a nation’s economy, we aggregate all other buyers/sellers from outside the nation into a category called ROW, which stands for rest-of-world.
Foreigners, or the ROW, can be involved in the economy on either the goods or financial side. In other words, when we buy foreign import products, money flows to ROW. When we sell export products to ROW, the money flows out from ROW and into our markets.
Foreigners may also either borrow in our financial markets by obtaining loans or by selling assets to US buyers. This is a money flow out from the US to ROW. The reverse can happen when foreigners lend money to US borrowers or they buy US bonds or assets.

Since in macroeconomics we are analyzing a nation’s economy, we aggregate all other buyers/sellers from outside the nation into a category called ROW, which stands for rest-of-world.