现行的国际收支例外制度由两大部分构成，即GATT1994第12、15条和18条的规定以及乌拉圭回合《关于GATT1994国际收支条款的谅解》（Understanding on the Balance-of-Payments Provisions of the General Agreement on Tariffs and Trade 1994，以下简称《谅解》）。
（一）GATT1994
GATT1994第12条明确赋予了各缔约方为了保障其对外金融地位和国际收支而限制进口商品的数量或价值的权利，但这种权利的实施并不是无条件的，且发达国家和发展中国家需要遵循的条件是不一样的。To forestall the imminent threat of, or to stop, a serious decline in its monetary reserves; or in the case of a contracting party with very low monetary reserves, to achieve a reasonable rate of increase in its reserves. 而对于发展中国家而言，相关的条件见GATT1994第18条B节第9款：To forestall the threat of, or to stop, a serious decline in its monetary reserves, or in the case of a contracting party with inadequate monetary reserves, to achieve a reasonable rate of increase in its reserves. Due regard shall be paid in either case to any special factors which may be affecting the reserves of the contracting party or its need for reserves, including, where special external credits or other resources are available to it, the need to provide for the appropriate use of such credits or resources.