(a)
To calculate:
The merchandise
Concept Introduction:
The periodical evaluation of trade balance, i.e., the difference in the value between the imports and exports is known as Merchandise Trade Balance. The evaluation is performed on monthly and yearly basis.
Explanation of Solution
=
Here, the merchandise trade balance is -$2,075 billion. The negative balance indicates a
(b)
To calculate:
The balance on goods and services.
Explanation of Solution
Import of Good and services =
Balance on Goods and Services =
Here, the balance on goods and services is -$100 billion. The negative balance indicates a trade deficit.
(c)
The balance on current account by using the given data.
Explanation of Solution
Here, the balance on current account is $121.5 billion.
(d)
The financial account balance using the given data.
Explanation of Solution
Here, the financial account balance is -$145.0 billion. The negative balance indicates a trade deficit.
(e)
The statistical discrepancy using the given data.
Explanation of Solution
Here, the statistical discrepancy is $23.5 billion.
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