The following are the items in the UKs 2021 balance of payments: billions Exports of goods

Question:

The following are the items in the UK’s 2021 balance of payments:


£ billions

Exports of goods

323.56

Imports of goods

492.77

Exports of services

330.73

Imports of services

189.55

Net income flows

11.87

Net current transfers

–17.93

Net capital transfers

–1.13

Direct investment

–113.49

Portfolio investment

+192.12

Other financial flows

–43.12

Reserves

–17.70


 Calculate the following:

(a) The balance on trade in goods.

(b) The balance on trade in goods and services

(c) The balance of payments on current account.

(d) The financial account balance.

(e) The total current plus capital plus financial account balance

(f) Net errors and omissions.

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Essential Economics For Business

ISBN: 9781292728940

7th Edition

Authors: John Sloman, Elizabeth Jones

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