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  1. Feb 2021
    1. c.)

      Because a trade deficit has occurred.

      How to improve position?

      • Reduce amount of imports (?)
    2. b.)

      -38325 + (-631) + 18792 = -20164

    3. a.)

      Balance in Goods = X-M = 51938 - 89131 = -37193

      BOT G&S = (-37193) + (-1132) = -38325

    4. 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

    5. Service Balance = Value of service exports –Value of service Imports

      Question: How do they measure the value of import services?

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