Current AccountValueExports of goods107,941Exports of services44,133Primary income receipts36,063Imports of goods132,484Import of services29,443Primary income payments29,750Net unilateral transfers-8,349Capital account-63Net acquisition of financial assets20,972Net incurrence of liabilities54,471Financial derivatives0Statistical discrepancy Based on the table above, the statistical discrepancy is

Answered: Based on the table above, the…

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter31: Open-Economy Macroeconomics: Basic Concepts

Section: Chapter Questions

Problem 4PA

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Current Account	Value
Exports of goods	107,941
Exports of services	44,133
Primary income receipts	36,063
Imports of goods	132,484
Import of services	29,443
Primary income payments	29,750
Net unilateral transfers	-8,349
Capital account	-63
Net acquisition of financial assets	20,972
Net incurrence of liabilities	54,471
Financial derivatives	0
Statistical discrepancy

Based on the table above, the statistical discrepancy is

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Statistical Discrepancy is the difference between the demand and supply in national accounts. Even though by defination the item needs to be equal in the national economy, they usually deviate from one another due to differences in statistical sources and they cannot be adjusted to be equal in the finish system of accounts.

The BOP(Balance Of Payments) is organised as a double entry book keeping system. As a result credits that is inflow of funds are primarily offset by debts which is the outflow of funds. This cause difficulty in gathering accurate information which in return creates statistical discrepancy.

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