Use the following balance of payments data for Australia to determine their balance on goods and...

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Use the following balance of payments data for Australia to determine their balance on goods and services for the current yea

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Answer 1

Answer #1

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The balance of Goods and Services = Export of goods - Import of Goods + Services credited - Services debited

The balance of Goods and Services = 188345 - 207658 + 59716 - 57269

= - 16,866 USD Million or ($16,866) millions

The balance of Goods and Services = -16,866 USD Million or ($16,866) millions

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Answer 2

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