Question
Below is a table containing various balance of payments items listed in order of their actual values (in $ millions) for the Canadian economy in
Below is a table containing various balance of payments items listed in order of their actual values (in $ millions) for the Canadian economy in a particular year. (Note: ROW = the rest of the world.)
DESCRIPTION OF ITEM | VALUE ($ millions) |
Imports of goods and services to Canada from ROW | 647,222 |
Exports of goods and services from Canada to ROW | 627,640 |
Net Canadian sales of domestic assets to ROW | 196,238 |
Net Canadian purchases of foreign assets from ROW | 149,503 |
Earned income paid by Canada to ROW | 110,826 |
Earned income received by Canada from ROW | 86,068 |
Income transfers from Canada to ROW | 14,122 |
Income transfers to Canada from ROW | 10,682 |
Transfers of assets to Canada from ROW | 879 |
Transfers of assets from Canada to ROW | 481 |
a) Use the above data to calculate the following values (in $ millions) and insert them in the shaded areas of the table below. (8 marks)
Canadas current account balance (CA) |
|
Canadas capital account balance (KA) |
|
Canadas financial account balance (FA) | |
Discrepancy (net errors & omissions) |
|
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