CFA® Level 1: Trade Balance Calculation

Trade Balance Calculation

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Question

The current account trade balance + the capital account trade balance =

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Explanations

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Explanation

By accounting identity, the capital account and current account must balance to zero. If there is a deficit in one, there must be a surplus in the other. This is one reason why if a nation has a government budget deficit, which amounts to negative domestic investment, the shortfall could be made up by foreigners, causing a capital account surplus. Conversely there must be a current account deficit in such a situation. This is one reason why budget deficits and trade deficits are linked.

Note that the term "trade balance" usually refers to the current account.