India's Current Account
Use the following India balance of payments data from the IMF (all items are for the current account) to answer the questions below.
Fill in ALL the values for using Excel calculations for all the cells in blue color.
Assumptions (millions of US dollars)		2000		2001		2002		2003
Goods: exports		43,247		44,793		51,141		60,893
Goods: imports		-53,887		-51,212		-54,702		-68,081
Balance on goods		-10,640		-6,419		-3,561		-7,188
Services: credit		16,684		17,337		19,478		23,902
Services: debit		-19,187		-20,099		-21,039		-24,878
Balance on services		-2,503		-2,762		-1,561		-976
Income: credit		2,521		3,524		3,188		3,491
Income: debit		-7,414		-7,666		-7,097		-8,386
Balance on income		-4,893		-4,142		-3,909		-4,895
Current transfers: credit		13,548		15,140		16,789		22,401
Current transfers: debit		-114		-407		-698		-570
Balance on current transfers		13,434		14,733		16,091		21,831
Questions		2000		2001		2002		2003
1. What is India's balance on goods?		-10,640		-6,419		-3,561		-7,188
2. What is India's balance on services?		-2,503		-2,762		-1,561		-976
3. What is India's balance on goods and services?		-13,143		-9,181		-5,122		-8,164
4. What is the balance on goods, services and income?		-18,036		-13,323		-9,031		-13,059
5. What is India's current account balance?		-4,601		1,410		7,060		8,772

Describe the trend in India's current account balance and give an explanation (from the data above) why this is happening.

Trend discussion (Useactual values, including percentages):

Why is this happening? (Usethe data to explain your answer):