What is Australia’s balance on goods? What is Australia’s balance on services What is Australia’s balance on goods and services? What is Australia’s current account balance? Millions of U.S. dollarsGoods: credit (exports)Goods: debit (imports)Services: credit (exports)Services: debit (imports)Primary income: creditPrimary income: debtSecondary income: creditSecondary income: debt20102011201220132014201520162017 201820192020213,782 271,719 257,950 254,180 240,704 188,212 192,907 231,566 257,849 271,441 250,660-196,303 -249,238 -270,136 -249,700 -240,252 -207,225 -198,703 -221,064 -236,906 -223,427 -210,72146,968 51,653 53,034 53,550 54,240 54,894 58,024 65,174 69,470 70,990 48,382-51,313 -61,897 -65,405 -67,977 -63,549 -63,656 -62,466 -68,474 -73,319 -72,035 -38,34735,711 47,852 47,168 46,316 46,637 39,413 39,530 42,603 48,543 49,866 45,613-84,646-102,400 -88,255 -85,289 -79,805 -67,763 -69,556 -84,511 -94,786 -88,067 -60,8525,813 7,510 7,271 7,109 6,962 6,586 6,567 6,946 7,159 7,047 6,722-7,189 -9,723 -9,635 -9,346 -8,996 -7,419 -7,339 -8,192 -7,796 -7,782 -7,629

Balance of goods = exports of goods - imports of goods Balance on services = exports of services -…

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What is Australia’s balance on goods? What is Australia’s balance on services What is Australia’s balance on goods and services?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter32: Macroeconomic Policy Around The World

Section: Chapter Questions

Problem 33P: Using the research skills you have acquired, retrieve the following data from The World Bank...

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Question

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What is Australia’s balance on goods?

What is Australia’s balance on services

What is Australia’s balance on goods and services?

What is Australia’s current account balance?

Millions of U.S. dollars
Goods: credit (exports)
Goods: debit (imports)
Services: credit (exports)
Services: debit (imports)
Primary income: credit
Primary income: debt
Secondary income: credit
Secondary income: debt
2010
2011
2012
2013
2014
2015
2016
2017 2018
2019
2020
213,782 271,719 257,950 254,180 240,704 188,212 192,907 231,566 257,849 271,441 250,660
-196,303 -249,238 -270,136 -249,700 -240,252 -207,225 -198,703 -221,064 -236,906 -223,427 -210,721
46,968 51,653 53,034 53,550 54,240 54,894 58,024 65,174 69,470 70,990 48,382
-51,313 -61,897 -65,405 -67,977 -63,549 -63,656 -62,466 -68,474 -73,319 -72,035 -38,347
35,711 47,852 47,168 46,316 46,637 39,413 39,530 42,603 48,543 49,866 45,613
-84,646-102,400 -88,255 -85,289 -79,805 -67,763 -69,556 -84,511 -94,786 -88,067 -60,852
5,813 7,510 7,271 7,109 6,962 6,586 6,567 6,946 7,159 7,047 6,722
-7,189 -9,723 -9,635 -9,346 -8,996 -7,419 -7,339 -8,192 -7,796 -7,782 -7,629

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