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(a) Describe how the official statements balance can be positive. (3 marks) (b) Using the following data (millions of RM) in Table 1 for a

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(a) Describe how the official statements balance can be positive. (3 marks) (b) Using the following data (millions of RM) in Table 1 for a given year, find the balance on current account, capital account and official settlement balance. Table 1: Exports of goods 850 Imports of goods 716 Exports of services 335 Imports of services 145 Net unilateral transfers 41 Income receipts 682 Income payments 269 Statistical discrepancy -171

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