The table below contains 2014 balance of payments accounts for Germany (in billions of Euros). Calculate the merchandise trade balance, the balance on goods and services, and the current account balance.Exports of goods services and income receipts (credits)2,095Exports of goods and services1,756Goods1,479Services277Primary income receipts259Secondary income receipts78Imports of goods services and income payments (debits)1,814Imports of goods and services1,510Goods1,179Services330Primary income payments171Secondary income payments132 Merchandise trade balance (balance on goods) Balance on goods and services Current account balance

Merchandise trade balance (balance on goods) = Exports of goods - Imports of goods Balance on goods…

Answered: The table below contains 2014 balance…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The table below contains 2014 balance of payments accounts for Germany (in billions of Euros). Calculate the merchandise trade balance, the balance on goods and services, and the current account balance.

*Exports of goods services and income receipts (credits)*	2,095
Exports of goods and services	1,756
Goods	1,479
Services	277
Primary income receipts	259
Secondary income receipts	78
*Imports of goods services and income payments (debits)*	1,814
Imports of goods and services	1,510
Goods	1,179
Services	330
Primary income payments	171
Secondary income payments	132

Merchandise trade balance (balance on goods)
Balance on goods and services
Current account balance

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