The balance of payments of Nation Z for 2011 is represented in Table 18.2. For Nation Z, the balance of trade for the year 2011 equals:Table 18.2

Question

Quizplus · Accepted Answer

The balance of trade is calculated as the difference between the value of exports and the value of imports of goods and services. From the table, the value of exports of goods and services is $550 billion and the value of imports of goods and services is $646 billion. Therefore, the balance of trade for Nation Z in 2011 is -$96 billion ($550 billion - $646 billion = -$96 billion).

The Balance of Payments of Nation Z for 2011 Is