From: Jerry Levy (Gerald_A_Levy@MSN.COM)
Date: Wed Oct 19 2005 - 21:13:04 EDT
----- Original Message ----- From: "Jurriaan Bendien" <adsl675281@tiscali.nl> Sent: Wednesday, October 19, 2005 12:03 PM Subject: Re: [OPE-L] [Jurriaan] Notes on gold > Jerry, you fig for UK tangibles seems odd... there is a permenent BoT > deficit here in UK ...this doesn't fit . > > Paul Bullock You are correct, at least prima facie this percentage seems a bit odd. I do not know how the World Bank calculated imports and exports of goods, but note that the percentages concern the share of the UK in world imports and exports expressed in a standard currency. Theoretically, the value of world exports should be equal to the value of world imports, but whether this is statistically the case, I do not know offhand; there is another issue here in terms of timing of transactions for recording purposes. Typically in the UK, the balance of trade for goods is negative (a deficit), and the balance of trade for services is positive (a surplus), but the total trade balance is slightly negative, i.e. the negative balance on goods outweighs the positive balance on services. The trade balance is of course not the same as the balance of payments. It is also possible, that I made a mistake in calculating the percentage, but I had some difficulty in finding the data set back again that I used, so to my regret I cannot definitely say just now what the cause is. Regards Jurriaan
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