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Use the following India balance of payments data from the IMF (all items are for the...

Use the following India balance of payments data from the IMF (all items are for the current account) to answer the following questions:

What is India's balance on goods?

 What is India's balance on services?  What is India's balance on goods and services?

 What is the balance on goods, services and income?

 What is India's current account balance?  

                    India's Current Account                                     Assumptions (millions of US$)   2000   2001   2002   2003                       Goods: exports   43,247   44,793   51,141   60,893   Goods: imports   -53,887   -51,212   -54,702   -68,081   Services: credit   16,684   17,337   19,478   23,902   Services: debit   -19,187   -20,099   -21,039   -24,878   Income: credit   2,521   3,524   3,188   3,491   Income: debit   -7,414   -7,666   -7,097   -8,386   Current transfers: credit   13,548   15,140   16,789   22,401   Current transfers: debit   -114   -407   -698   -570                    

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