Show me the steps to solve Problem $1$

$(2$ points$)$ Examine the summary of the balance of payments of the United States for $2019$ provided below. Compute and discuss the balance on the current account and its subaccounts.

a$.$ Balance on the U$.$S$.$ trade in goods, in services, and in goods and services combined.

b$.$ Balance on the U$.$S$.$ primary income.

c$.$ Balance on the U$.$S$.$ secondary income.

d$.$ Balance on the U$.$S$.$ current account.

A Summary of the U$.$S$.$ Balance of Payments for $2019($in $ billion$)$ Credits

Debits

$3,104\mathrm{.}72,513\mathrm{.}6$

$591\mathrm{.}1893\mathrm{.}0$

$286\mathrm{.}9472\mathrm{.}1$

$6\mathrm{.}56\mathrm{.}4$

$122\mathrm{.}213\mathrm{.}5$

Current Account

$[1]$ Exports $2,528\mathrm{.}4[1\mathrm{.}1]$ Goods

$[1\mathrm{.}2]$ Services $[2]$ Imports

$[2\mathrm{.}1]$ Goods

$[2\mathrm{.}2]$ Services

$[3]$ Primary income $1,124\mathrm{.}9[4]$ Secondary income $159\mathrm{.}2$

Balance on current account

$[[1]+[2]+[3]+[4]]$

Capital Account $0\mathrm{.}1$

Balance on capital account

Financial Account $($excluding official reserves$)$

$[5]$ Direct investment $302\mathrm{.}2[6]$ Portfolio investment $218\mathrm{.}9$

$[6\mathrm{.}1]$ Equity securities $[6\mathrm{.}2]$ Debt securities $[6\mathrm{.}3]$ Derivatives, net

$1,652\mathrm{.}1876\mathrm{.}3$

$244\mathrm{.}1421\mathrm{.}341\mathrm{.}7$

$163\mathrm{.}4149\mathrm{.}9$

$[7]$ Other investment

Balance on financial account $[[5]+[6]+[7]]$

$[8]$ Statistical discrepancies Overall balance

Official Reserve Account

$276\mathrm{.}4485\mathrm{.}2$

$4\mathrm{.}7$

$203\mathrm{.}6$

$2\mathrm{.}04\mathrm{.}7$