Australia's Current Account. Use the following balance of payments data for Australia from the IMF:

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. What is Australia's balance on goods and services for years

2005,

2011,

and

2013?

The balance on goods and services for year

2005

is (in millions)

$nothing.

(Round to the nearest integer and enter any deficit with a negative sign.)

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Data Table

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Australia's Current Account
Assumptions (millions USD)	2005	2006	2007	2008	2009	2010	2011	2012	2013	2014	2015
Goods: exports	107,011	124,913	142,421	189,057	154,777	213,782	271,719	257,950	254,180	240,704	188,345
Goods: imports	-120,383	-134,509	-160,205	-193,972	-159,216	-196,303	-249,238	-270,136	-249,700	-240,252	-207,658
Balance on goods	-13,372	-9,596	-17,784	-4,915	-4,439	17,479	22,481	-12,186	4,480	453	-19,313
Services: credit	31,047	33,088	40,496	45,240	40,814	46,968	51,653	53,034	53,550	54,240	49,716
Services: debit	-30,505	-32,219	-39,908	-48,338	-42,165	-51,313	-61,897	-65,405	-67,977	-63,549	-57,269
Balance on services	542	869	588	-3,098	-1,351	-4,345	-10,244	-12,371	-14,427	-9,309	-7,553
Income: credit	16,445	21,748	32,655	37,320	27,402	35,711	47,852	47,168	46,316	46,637	38,105
Income: debit	-44,166	-54,131	-73,202	-76,719	-65,809	-84,646	-102,400	-88,255	-85,289	-79,805	-67,842
Balance on income	-27,722	-32,383	-40,547	-39,399	-38,407	-48,935	-54,548	-41,087	-38,973	-33,168	-29,736
Current transfers: credit	3,333	3,698	4,402	4,431	4,997	5,813	7,510	7,271	7,109	6,962	5,853
Current transfers: debit	-3,813	-4,092	-4,690	-4,805	-5,799	-7,189	-9,723	9,635	-9,346	-8,996	-7,685
Balance on current transfers	-480	-394	-288	-374	-802	-1,376	-2,213	16,906	-2,237	-2,034	-1,832
Note: The IMF has recently adjusted their line item nomenclature. Exports are all now noted as credits, imports as debits.

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