- Feb 2021
Because a trade deficit has occurred.
How to improve position?
- Reduce amount of imports (?)
-38325 + (-631) + 18792 = -20164
Balance in Goods = X-M = 51938 - 89131 = -37193
BOT G&S = (-37193) + (-1132) = -38325
The balance of paymentsof a country is a record (usually for a year) of all transactions between the residents of the country and the residents of other countries
Definition of BOP
Service Balance = Value of service exports –Value of service Imports
Question: How do they measure the value of import services?