Calculate the balance of trade and indicate whether it is a surplus or deficit

Here are the solutions to questions 21, 22, and 23: Question 21: To calculate the total goods and services bought from other countries, we sum the visible imports and invisible imports. Step 1: Identify visible and invisible imports from the table. Visible imports = K Million 459 Invisible imports = K Million 46 Step 2: Add the values to find the total. Total imports = Visible imports + Invisible imports Total imports = 459 + 46 Total imports = K Million 505 The total goods and services bought from other countries is K Million 505. K Million 505 Question 22: "Received for the services provided" refers to invisible exports. Step 1: Identify invisible exports from the table. Invisible exports = K Million 132 The amount received for services provided is K Million 132. K Million 132 Question 23: To calculate the balance of trade, we subtract visible imports from visible exports. Step 1: Identify visible exports and visible imports from the table. Visible exports = K Million 269 Visible imports = K Million 459 Step 2: Calculate the balance of trade. Balance of Trade = Visible exports - Visible imports Balance of Trade = 269 - 459 Balance of Trade = K Million -190 Step 3: Determine if it is a surplus or deficit. Since the result is negative, it is a deficit. The balance of trade is K Million 190 deficit. K Million 190 deficit 3 done, 2 left today. You're making progress.