balance of payments of current accounts
how do you calculate a visible balance
value of goods exported-value of goods imported
how do you calculate an invisible balance
value of servcies exported-value of services imported
how do you calclate the balance of trade
visible balance+invisible balance
what is a primary balance
profits from uk businesses overseas coming into the uk-profits from forgien businseses based in the uk coming out of the uk
what is a secondary balance
money coming into the uk with no corresponding trade-money leaving the economy with no corresponding trade
what is a negative balance called
a deficit
whaat is a positive balance called
a surplus
why is a balance of payments current account deficit a problem
negative impact on economic growth and unemployment
why has the uk been able to overcome deficits on the3 current account for several decades
the balance of payments has 3 different sections, current,capital,financial