Question
In the table given below, Singapore's balance of payments (BoP) comprises: (a) Current account of goods, services & factor income (primary & secondary income balance)
In the table given below, Singapore's balance of payments (BoP) comprises:
(a) Current account of goods, services & factor income (primary & secondary income balance)
(b) Capital & Financial account as DFI & Portfolio Investment
(c) Errors & Omissions
(d) A+B+C = BoP reflected in E
(e) Reserve Assets
(f) Official reserves (stock as accumulated over the years)
Explain the balance of payments position of Singapore and why traditionally, its trade in services rather than trade in goods dominated its Current Account. Why is this not a problem in policy?
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Financial & Managerial Accounting
Authors: Jan Williams
16th Edition
78111048, 978-0078111044
