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Question: Use the following information to determine

(a) the current account balance,

(b) the capital and financial account balance,

(d) the net errors and omissions of the balance of payments. Refer back to Tables 15.2 and 15.3 for details on which transactions go into the current account and which into the capital and financial account balance.

Service imports, $14.1 billion; foreign investments from the ROW, $9.9 billion; service exports, $6.6 billion; total official foreign exchange reserves, beginning of the year, $42.2 billion; merchandise imports, $28.8 billion; net transfers, -$7.8 billion; profits, interest and dividend earnings from the ROW, $7.8 billion; foreign investments in the ROW, $3.2 billion; total official foreign exchange reserves, end of the year, $38.7 billion; foreign loans extended to ROW, $15.2 billion; foreign loans received from ROW, $9.4 billion; merchandise exports, $32.6 billion; profits, interest, and dividends paid to the ROW, $6.7 billion.

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Accounting Basics, Accounting

Category:- Accounting Basics
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