Question
Australia's Current Account. Use the following balance of payments data for Australia from the IMF: LOADING... . What is Australia's balance on services for years
Australia's Current Account. Use the following balance of payments data for Australia from the IMF:
LOADING...
. What is Australia's balance on services for years
2007,
2009,
and
2012?
The balance on services for year
2007
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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Introduction to Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen
7th edition
978-0078025792
