Examine the summary of the balance of payments of the United States for 2021. Compute and discuss the balance on the current account and its subaccounts. A Summary of the U.5. Balance of Payments for 2021 (in $ billion) Credits Debits Current Account [1] Exports $ 2,596.0 [1.1] Goods 1, 683.0 [1.2] Services 913.0 [2] Imports-53,374.7 [2.1] Goods-2, 663.6 [2.2] Services -711.1 [3] Primary Income 1,214.9-953.0 [4] Secondary income 219.2-376.9 Balance on current account [[1]+[2]+[3]+[4]-674.5 Capital Account 1.3-15.5 Balance on capital account -14.2 Financial Account (excluding official reserves) [5] Direct investment 392.2-182.2 [6] Portfolio investiment 308.9 13.5 [6.1] Equily securities -304.1 223 4 [6.2] Deht securities 481.3-209.9 [6.3] Derivatives, net 131.7 [7] Other Investment 456.4-263.6 Balance on financial account [[5]+[6]+[7]] 725.2 [8] Statistical discrepancies -3.0 Overall balance 33:5 Official Reserve Account -33.5 Source: The U.S. Bureau of Economic Analysis Required: a1. Compute the balance on the U. 5. goods trace. a-2 What does the balance on the U.5. goods trade you computed above represent? a 3. Compute the balance on the U.S. services trade, a-4. What does the balance on the U.S. services trade you computed above represent? a-5. Compute the balance on the U S. trade in goods and services, a-6. What does the balance on the U. S. trade in goods and services you computed above represent?
Examine the summary of the balance of payments of the United States for 2021. Compute and discuss the balance on the current account and its subaccounts. A Summary of the U.5. Balance of Payments for 2021 (in $ billion) Credits Debits Current Account [1] Exports $ 2,596.0 [1.1] Goods 1, 683.0 [1.2] Services 913.0 [2] Imports-53,374.7 [2.1] Goods-2, 663.6 [2.2] Services -711.1 [3] Primary Income 1,214.9-953.0 [4] Secondary income 219.2-376.9 Balance on current account [[1]+[2]+[3]+[4]-674.5 Capital Account 1.3-15.5 Balance on capital account -14.2 Financial Account (excluding official reserves) [5] Direct investment 392.2-182.2 [6] Portfolio investiment 308.9 13.5 [6.1] Equily securities -304.1 223 4 [6.2] Deht securities 481.3-209.9 [6.3] Derivatives, net 131.7 [7] Other Investment 456.4-263.6 Balance on financial account [[5]+[6]+[7]] 725.2 [8] Statistical discrepancies -3.0 Overall balance 33:5 Official Reserve Account -33.5 Source: The U.S. Bureau of Economic Analysis Required: a1. Compute the balance on the U. 5. goods trace. a-2 What does the balance on the U.5. goods trade you computed above represent? a 3. Compute the balance on the U.S. services trade, a-4. What does the balance on the U.S. services trade you computed above represent? a-5. Compute the balance on the U S. trade in goods and services, a-6. What does the balance on the U. S. trade in goods and services you computed above represent?
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