The following are the items in the UK’s 2014 balance of payments (£ billions) Exports of goods............................................................................ 292.2 Exports of services.......................................................................... 215.0 Direct and portfolio UK net investment abroad ............................ –24.8 Reserves (adding to = –ve)............................................................... –7.1 Other (mainly short-term) financial inflows to UK.......................... 35.0 Other (mainly short-term) financial outflows from UK................. 100.3 Capital transfers to UK from abroad.................................................. 2.4 Capital transfers abroad from the UK................................................ 1.4 Net incomes and current transfers from/to abroad......................... –70.4 Imports of goods............................................................................ 413.4 Imports of services.......................................................................... 129.0 Direct and portfolio net investment in the UK from abroad.......... 151.9 Using the table above, work out the figures for the UK for the following: (a) The balance on trade in goods and services............................................................................. (b) The current account balance.................................................................................................... (c) The capital account balance.....................................................................................................
The following are the items in the UK’s 2014 balance of payments (£ billions)
Exports of goods............................................................................ 292.2
Exports of services.......................................................................... 215.0
Direct and portfolio UK net investment abroad ............................ –24.8
Reserves (adding to = –ve)............................................................... –7.1
Other (mainly short-term) financial inflows to UK.......................... 35.0
Other (mainly short-term) financial outflows from UK................. 100.3
Capital transfers to UK from abroad.................................................. 2.4
Capital transfers abroad from the UK................................................ 1.4
Net incomes and current transfers from/to abroad......................... –70.4
Imports of goods............................................................................ 413.4
Imports of services.......................................................................... 129.0
Direct and portfolio net investment in the UK from abroad.......... 151.9
Using the table above, work out the figures for the UK for the following:
(a) The balance on trade in goods and services.............................................................................
(b) The current account balance....................................................................................................
(c) The capital account balance.....................................................................................................
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