Macroeconomics 20th Edition by Campbell McConnell ,Stanley Brue ,Sean Flynn

Exercise 11

Alpha's balance-of-payments data for 2012 are shown below. All figures are in billions of dollars. What are the ( a ) balance on goods, ( b ) balance on goods and services, ( c ) balance on current account, and ( d ) balance on capital and financial account? Suppose Alpha sold $10 billion of official reserves abroad to balance the capital and financial account with the current account. Does Alpha have a balance-of-payments deficit or does it have a surplus?