Go to the World Bank website and access the Open Data page: https://data.worldbank.org/ Type in the search box: "service exports" and select from the drop down menu service exports (BOP, current USS). Download data on service exports from 1975 to 2019 for Canada, United States and India. Perform the same search and download data for the same countries for service imports (BOP, current USS). Compute for each country the Trade balance = Service exports - Service imports Answer the following: a) Plot service exports for all countries in one line graph and plot service imports for all countries in one line graph. Comment on the trend in each country. b) Plot the trade balance for each country in the same line graph. Comment on the trend in each country. c) Based on the graphs, is there an evidence of offshoring activities from the United States and Canada to India over this period? If yes, around what time it started to intensify? d) Given the current trend, what do you predict trade balances will look like in the next decades?5.00E+11 2.506+11 7.50E+11 1.00E+12 0 1975 1976 1977 1978 1979 1980 1981 1982 Service exports (BoP, current US$) 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 Year 1997 1998 1999 2000 2001 2002 2003 2004 2005 200 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 - India Canada - United states 200000800000 400000000000 600000000000 1975 1976 1977 1978 1979 1980 Service imports (BoP, current US$) 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 Year 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 India Canada United states\fService exports (BoP, current USS) Service imports (BoP, current USS) Trade balance Country Name Country Name Country Name Year Canada India United States Year Canada India United States Year Canada India United States 1975 4312563916 840616811.9 23330000000 1975 6797257573 1054429279 22270000000 1975 -2484693657 -213812467.3 1060000000 1976 5017422783 1055835076 27580000000 1976 8085932711 1140339679 24910000000 1976 -3068509928 -84504602.81 2670000000 31090000000 1977 8405548920 1286195618 27630000000 1977 -3403460403 30291318.48 3460000000 1977 5002088517 1316486937 1978 5468392677 1606852918 35450000000 1978 8868573324 1555185643 31690000000 1978 -3399680647 51667275.13 3760000000 1979 6495195332 2082933822 38831300000 1979 9231600402 2119707072 36230000000 1979 -2736405070 -36773250.56 2601300000 47550000000 1980 10665850858 2981250140 40970000000 1980 -3221048316 -9992911.394 6580000000 1980 7444802542 2971257228 1981 9114481532 2797358479 57250000000 1981 12196218261 3248934601 44880000000 1981 -3081736729 -451576122.1 12370000000 1982 8929790552 2932696123 63990000000 982 11865115207 3471435846 51040000000 1982 -2935324655 -538739722.4 12950000000 1983 9716985925 3290114666 64220000000 1983 12792202454 3705025624 54260000000 1983 3075216529 -414910958.6 9960000000 10252504179 3232033318 71114000000 1984 13438219295 3641498271 66910000000 1984 -3185715116 -409464952.5 4204000000 1984 1985 10826730602 3384170908 73093000000 1985 14184487323 3902932258 72030000000 1985 -3357756721 -518761349.9 1063000000 1986 15510800611 3945325643 80158000000 1986 -3418207605 -717098128.6 6541000000 1986 12092593006 3228227514 86699000000 1987 13351330202 3363400779 98662000000 1987 17218783846 4629176088 90786000000 1987 -3867453644 -1265775310 7876000000 3791282738 110915000000 20481158558 5321401026 198 -4552771707 -1530118287 1988 15928386851 1988 98615000000 12300000000 4139799057 127140000000 1989 23798201274 5873652595 102510000000 1989 -6085280970 -1733853539 24630000000 1989 17712920304 1990 18876609592 4624863458 147860000000 1990 27197547053 6089548067 117670000000 1990 -8320937461 -1464684609 30190000000 4925463517 164260000000 1991 29193137796 5945075745 118500000000 1991 -9204154587 -1019612228 45760000000 1991 19988983209 1992 20208362766 4934088263 177241900000 1992 29702674943 6735101347 119552000000 1992 -9494312177 -1801013084 57689900000 5107023139 185911000000 62140000000 1993 21141890777 1993 31109007636 6496558658 123771000000 1993 -9967116859 -1389535519 -7997497911 67320000000 1994 22815615611 6038145747 200395000000 1994 30813113522 8199772593 133075000000 1994 -2161626846 1995 25235438124 6774717629 219193000000 1995 31973786675 10267794516 141410000000 1995 -6738348551 -3493076887 77783000000 1996 -6106849746 -3932649792 86965000000 1996 28396648955 7238385384 239515000000 1996 34503498701 11171035176 152550000000 30494861780 9110607257 256093000000 1997 36213460700 12442708484 165953000000 1997 -5718598920 -3332101227 90140000000 1997 -2848761594 82091000000 998 33038911821 11691135747 262767000000 1998 36534166833 14539897341 180676000000 1998 -3495255012 14508990007 277997000000 1999 39187897180 17271286039 196743000000 1999 -3653302582 -2762296032 81254000000 1999 35534594598 40179700358 16685072488 298023000000 2000 42970424017 19187986330 220929000000 2000 -2790723659 -2502913842 77094000000 2000 2001 38966453701 17337028679 284033000000 2001 42123325539 20098890498 222038000000 2001 -3156871838 -2761861819 61995000000 2002 -2706502983 -1561045736 54580000000 2002 40825598598 19478164642 288059000000 2002 43532101581 21039210378 233479000000 -5169509189 976228809.9 45393000000 2003 45262535796 23901712153 297735000000 2003 50432044985 24877940963 252342000000 2003 2004 53165123526 38097905007 344537000000 2004 57656056409 35440956520 290605000000 2004 -4490932883 2656948487 53932000000 60288780506 52178951919 378490000000 2005 65194728778 47166360582 312222000000 2005 -4905948272 5012591337 66268000000 2005 2006 -6567185938 10925684130 73755000000 2006 66374927570 69439848438 423086000000 2006 72942113508 58514164307 349331000000 71144437729 86552459544 495658000000 2007 82582819572 70174852290 385465000000 2007 -11438381843 16377607254 110193000000 2007 2008 75491106960 106054239105 540790000000 2008 89925399192 55562861740 420650000000 2008 -14434292232 50491377365 120140000000 39859344862 114917000000 2009 69106139075 92889486182 522458000000 2009 83248040464 53030141320 407541000000 2009 -14141901389 2010 76929188987 117068311674 582045000000 2010 98437352800 78912971414 436450000000 2010 -21508163813 38155340261 145595000000 2011 85332373496 138527915665 644669000000 2011 107414566548 77758139080 458189000000 2011 -22082193052 60769776585 186480000000 92039910125 145524596558 684822000000 2012 114024620099 79919618509 469611000000 2012 -21984709974 65604978049 215211000000 2012 93625570158 149163631866 719531000000 2013 115622359688 78722220355 465817000000 70441411511 253714000000 2013 2013 -21996789530 2014 92835162818 157196138164 756702000000 2014 114239109597 81118589091 490930000000 2014 -21403946779 76077549073 265772000000 2015 85007381297 156278173576 768365000000 2015 104975838755 82643096048 497761000000 2015 -19968507458 73635077528 270604000000 2016 87478688097 161818782928 780528000000 2016 104550207375 95922439917 511899000000 2016 -17071519278 65896343011 268629000000 2017 94753221151 185294014277 830388000000 2017 111907891782 109371141905 544833000000 2017 -17154670631 75922872372 285555000000 2018 103527523577 204955578854 862432000000 2018 120864292101 124181614507 562069000000 2018 -17336768524 80773964347 300363000000 84226339441 287467000000 2019 105022974327 214761539671 875830000000 2019 121218865178 130535200230 588363000000 2019 -16195890851
