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Hypothetical Balance of Payments for the US

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The following are hypothetical data for the U.S. balance of payments. Use the data to calculate each of the following:

a. Merchandise trade balance
b. Balance of goods and services
c. Balance of current account
d. Capital account balance
e. Statistical discrepancy

Billions of Dollars
Merchandise exports 350.0
Merchandise imports - 425.0
Service exports 170.0
Service imports - 145.0
Net unilateral transfers - 21.5
Outflow of U.S. capital - 45.0
Inflow of foreign capital 70.0

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Balance of Payments is highlighted.

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a. Merchandise trade balance = Merchandise exports-Merchandise imports
<br>= 350.0 - 425.0= -75
<br>b. Balance of goods and services = ...

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