Question
The following table contains information from Jamaica's Balance of Payments for the third quarters of 2014 and 2015 ($US millions) 2014 2015 ~ Current Account
The following table contains information from Jamaica's Balance of Payments for the third quarters of 2014 and 2015
($US millions)
20142015
~ Current Account Balance
Goods/Merchandise exports375.0288.1
Goods/Merchandise imports1321.01067.1
* Goods/Merchandise Balance
Incomes Account Balance- 85.7-87.7
Current Transfers (Credits)659.0673.8
Current Transfers (Debits)63.163.5
* Current Transfers Balance
Services Exports744.0781.1
Services Imports581.6589.2
* Services Balance
Reserves Balance77.1953.3
a)Calculate the missing Balances for both years (marked with *).
i)Goods/Merchandise Balance
ii)Services Balance
iii)Current Transfers Balance
b)Calculate the overall Current Account Balances (marked with ~).
c)Comment briefly on three changes in the Current Account Balance from 2014 to 2015
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