wn in the table below The balance on the capital and financ

. wn in the table below. The balance on the capital and financial account for this The current account for a fictitious country is sho country is $28 bilion a. Fill in the missing values in the table Instructions: Enter your answers as whole numbers. Use a negative sign if necessary CURRENT ACCOUNT (in billions of dollars) 474 (1) Goods exports 2) Goods imports (3) Balance on goods (4) Expots of services (5) Imports of services 16) Balance on services (7) Balance on goods and senvices (8) Net investment in -15 45 10) Balance on current account

Solution

The balance on the Capital, and, financial account - $28 billion

Current account balance will be positive; it is not a deficit but a surplus

Goods exports - 474 billion dollars

Goods imports 489 billion dollars

Balance on goods -15 billion dollars

Exports of services -63 billion USD

Imports of services 98 billion dollars

Balance on services -35 billion USD

Balance on goods & services -50 billion USD

Net investment income 45 billion dollars

Net transfers -14 billion dollars

Balance on current account

X - M + Net income abroad + Net current transfers

474 - M + 45 + 14

415 - M

533 - M = 533 - 587 = 50