Exercise 1.2 Find the most recent data on the U.S. current account and its components. Present your answer in a form similar to table 1.1, that is, show figures in both current dollars and as a percentage of GDP. For current account and GDP data visit the Bureau of Economic Analysis website. Compare your table with table 1.1.

Table 1.1: The Current Account of the United States in 2018 Billions Percentage Item of dollars of GDP Current Account -488.5 -2.4 Trade Balance -622.1 -3.0 Balance on Goods -891.3 -4.3 Balance on Services 269.2 1.3 Income Balance 244.3 1.2 Net Investment Income 258.1 1.3 Compensation of Employees -13.8 -0.1 Net Unilateral Transfers -110.7 -0.5 Private Transfers -94.4 -0.5 U.S. Government Transfers -16.2 -0.1 Data Source: Authors' calculations based on data from ITA Tables 1.1 and 5.1. and NIPA Table 1.1.5. of the Bureau of Economic Analysis. Table 1.1: The Current Account of the United States in 2018 Billions Percentage Item of dollars of GDP Current Account -488.5 -2.4 Trade Balance -622.1 -3.0 Balance on Goods -891.3 -4.3 Balance on Services 269.2 1.3 Income Balance 244.3 1.2 Net Investment Income 258.1 1.3 Compensation of Employees -13.8 -0.1 Net Unilateral Transfers -110.7 -0.5 Private Transfers -94.4 -0.5 U.S. Government Transfers -16.2 -0.1 Data Source: Authors' calculations based on data from ITA Tables 1.1 and 5.1. and NIPA Table 1.1.5. of the Bureau of Economic Analysis