Consider the Balance of Payments of the United Kingdom in 2021 as depicted in the table below (in millions of USD).

1	Exports of goods	444,558
2	Imports of goods	-655,991
3	Trade balance	-211,433
4	Exports of services	429,928
5	Imports of services	-242,728
6	Interest, profits, and dividends received	256,143
7	Interest, profits, and dividends paid	-269,988
8	Unilateral receipts	36,163
9	Unilateral payments	-61,027
10	Current account	-62,941
11	Capital account, credit	1,172
12	Capital account, debit	-4,735
13	Capital account	-3,563
14	Direct investment, assets	-80,132
15	Direct investment, liabilities	18,493
16	Portfolio investment, assets	55,803
17	Portfolio investment, liabilities	267,029
18	Financial derivatives (other than reserves) and employee stock options	37,411
19	Other investment, assets	-404,994
20	Other investment, liabilities	201,360
21	Financial account	94,970
22	Net errors and omissions	-5,102
23	Net credit and loans from the IMF	0
24	Reserves and related	23,364
25	Reserve assets	23,364

a) Does the country exhibit a current account deficit or surplus? Why? (15 marks)

(b) What does this mean in terms of the integration of the country in the world economy? Discuss with respect to the flow of both goods/services and capital. (15 marks)

(c) Discuss the conditions that make a current account balance excessive (20 marks)