Balance of Payment: Calculate the missing figures in Year 2 for the Balance of Trade, given Export and Import of goods.

TOPIC 2 : Balance of Payment
ASSIGNMENT NO. 2 , 10 Marks
QUESTION 1.

Here are the calculations for the missing figures in Year 2, following the structure and calculation methods observed in Year 1.

A. Balance of Trade

Step 1: Identify the values for Export of goods and Import of goods for Year 2.
Export of goods = K30,000
Import of goods = K20,000

Step 2: Calculate the Balance of Trade.

$$\text{Balance of Trade} = \text{Export of goods} - \text{Import of goods}$$ $$$$