Debits→subtractions to a nation's account
How to Calculate the following:
1. Balance of Trade: merchandise ↓ service exports-merchandise ↓service imports (typically)
2. Trade deficit occurs when the balance on trade is negative (imports>exports)/ Trade surplus occurs when the balance on trade is positive (exports>imports)
3. Balance on current account=Balance on trade (exports & imports)+Net investment income+Transfer payments
4. Official Reserves
*nationally
Δ in CA+Δ in FA+Δ in official reserves=not zero
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