Here we have again Piresia, this beautiful country. Statisticians collected the following data on the foreign economic transactions of Priesia in 2018.

Goods export: $2,320,000

Goods import: $5,653,000

80% of export revenues arrived to the accounts of the exporters, while 90% of import is paid by the importers up to 31st of December, 2018. The rest of the payments remain as implicit lending of the suppliers towards the buyers (thus it is a financial transaction).

Services exported by Piresian companies is $3,214,300

Services imported is $1,436,000

Expenditures on services were settled completely up to 31st December, 2018 in both directions.

Some Priesians worked abroad for a short while in 2018 and brought home altogether $120,000 wage income, but Piresian companies paid $187,000 in wages to foreigners working in the country for some time in this year. On the 31st of December, these companies still owed $131,400 to their foreign employees.

Some foreign investors arrived to the country in 2018 who made infrastructural investments (foreing direct investments) for $3,421,000. Above this, many foreign speculators bought Piresian government bonds for $5,231,400. 60% of these bonds were re-bought (sold) until 31st December. Piresian investors bought foreign securities for $1,231,000 during the year.

Using the information above, construct the Balance of Payment of Piresia for 2018! By how much did Piresian international reserves change during this year?

Answer rating: 100% (QA)

Balanc... View the full answer