The following information on Ghana’s Balance of Payments Accounts for 2013 (million U.S. Dollars) is provided. CURRENT ACCOUNT US$ 1. Merchandise Exports ( £.o.b) 11,679.40 2. Merchandise Imports (£.o.b) -16,092.50 Trade balance -4,413.1 3. Services (net) -2,346.84 Receipts 3,539.40 Payments -5,886.24 4. Income (net) 4,155.98 Receipts -592.96 Payments 202.24 5. Current Transfers (net) 795.20 CAPITAL & FINANCIAL ACCOUNT 6. Capital Account 1,127.78 Capital Transfers 1,127.78 7. Financial Account Direct Investments 3,355.68 Portfolio Investments -87.28 Other Investments 1,737.96 Of which: Short term capital -164.12 Other capital investments 2,172.40 OVERALL BALANCING 2,317.56 Required; Calculate the Ghana Current Account. Calculate the Ghana Capital and Financial Account Balance. What did the Balance of Payments imply about the Ghanaian economy?
The following information on Ghana’s Balance of Payments Accounts for 2013 (million U.S. Dollars) is provided.
|
CURRENT ACCOUNT |
US$ |
|
1. Merchandise Exports ( £.o.b) |
11,679.40 |
|
2. Merchandise Imports (£.o.b) |
-16,092.50 |
|
Trade balance |
-4,413.1 |
|
3. Services (net) |
-2,346.84 |
|
Receipts |
3,539.40 |
|
Payments |
-5,886.24 |
|
4. Income (net) |
4,155.98 |
|
Receipts |
-592.96 |
|
Payments |
202.24 |
|
5. Current Transfers (net) |
795.20 |
|
CAPITAL & FINANCIAL ACCOUNT |
|
|
6. Capital Account |
1,127.78 |
|
Capital Transfers |
1,127.78 |
|
7. Financial Account |
|
|
Direct Investments |
3,355.68 |
|
Portfolio Investments |
-87.28 |
|
Other Investments |
1,737.96 |
|
Of which: |
|
|
Short term capital |
-164.12 |
|
Other capital investments |
2,172.40 |
|
OVERALL BALANCING |
2,317.56 |
Required;
- Calculate the Ghana Current Account.
- Calculate the Ghana Capital and Financial Account Balance.
- What did the Balance of Payments imply about the Ghanaian economy?
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