1、C CU U R RR RE EN N T T A A C CC CO O U U N N T T1.Trade in goodsa)Exportsb)ImportsBalance on trade in goods+166 340178 93812 598CU RREN T A C C O U N TCU RREN T A C C O U N T1.Trade in goodsa)Exportsb)ImportsBalance on trade in goods2.Trade in servicesa)Exportsb)ImportsBalance on trade in servicesB
2、alance on trade in goods and services+166 340178 93812 598+50 80743 665+7 1425 456CU RREN T A C C O U N TCU RREN T A C C O U N T1.Trade in goodsa)Exportsb)ImportsBalance on trade in goods2.Trade in servicesa)Exportsb)ImportsBalance on trade in servicesBalance on trade in goods and services3.Other in
3、come flowsInvestment income balanceTransfers balanceC urrent account bal anceC urrent account bal ance+166 340178 93812 598+50 80743 665+7 1425 456+9 6524 631435435C C A A P PI I T TA A L L A A C C C C O O U U N N T T(T Tr ra an ns sa ac ct ti i o on ns s i i n n U U K K e ex xt te er rn na al l a a
4、s ss se et ts s a an nd d l l i i a ab bi i l l i i t ti i e es s)4.Long-term capital transactionsa)Net investment in UK from abroadb)Net UK investment abroadLong-term capital balance+48 45989 25140 792C C A A P PI I T TA A L L A A C C C C O O U U N N T T(T Tr ra an ns sa ac ct ti i o on ns s i i n
5、n U U K K e ex xt te er rn na al l a as ss se et ts s a an nd d l l i i a ab bi i l l i i t ti i e es s)4.Long-term capital transactionsa)Net investment in UK from abroadb)Net UK investment abroadLong-term capital balance5.Short-term capital flowsa)Net deposits in UK from abroad and borrowing from a
6、broad by UK residentsb)Net deposits abroad by UK residents and UK lending to overseas residentsShort-term capital balance+48 45989 251+168 636130 55140 792+38 085C C A A P PI I T TA A L L A A C C C C O O U U N N T T(T Tr ra an ns sa ac ct ti i o on ns s i i n n U U K K e ex xt te er rn na al l a as
7、ss se et ts s a an nd d l l i i a ab bi i l l i i t ti i e es s)4.Long-term capital transactionsa)Net investment in UK from abroadb)Net UK investment abroadLong-term capital balance5.Short-term capital flowsa)Net deposits in UK from abroad and borrowing from abroad by UK residentsb)Net deposits abro
8、ad by UK residents and UK lending to overseas residentsShort-term capital balance6.Reserves(drawing on+adding to)Net transactions in external assets andliabilities(capital account balance)+48 45989 251+168 636130 55140 792+38 085+509 2 21 19 98 8T TO OT TA AL L C CU UR RR RE EN NT T +C CA AP PI I T
9、TA AL L A AC CC CO OU UN NT TS STotal current accountTotal capi tal accountTotal current+capital accounts7.Balancing itemOverall balance of payments4352 198 2 633+2 6330-7.0-6.0-5.0-4.0-3.0-2.0-1.00.01.02.01985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 billions(quarterly)USdollarFr
10、enchfrancJapaneseyenGermanmarkItalianliraSterling exchangerate index(1990=100)19802.33 9.835264.231992124.419812.0310.944454.562287127.919821.7511.484354.242364123.219831.5211.553603.872302115.619841.3411.633073.792339111.419851.3011.552473.782453111.319861.4710.162373.182186101.419871.64 9.842282.9
11、42123 99.319881.7810.602263.122315105.419891.6410.452573.082247102.319901.79 9.692572.882133100.019911.77 9.952382.932187100.81992 Q11.77 9.752282.872155 99.4Q21.81 9.832352.922198101.2Q31.90 9.452382.792154 99.4Q41.58 8.301942.452145 87.719931.50 8.511672.482360 88.919941.53 8.491562.482467 89.2199
12、51.58 7.871482.262571 84.81996 1.56 7.991702.352408 86.31997 Q11.63 9.111972.702666 96.9 Q21.64 9.451962.802765 99.6 Q31.63 9.891922.942863102.5$price of D by USAQ of 1.001.201.401.601.802.002.200$price of S by UKD by USAQ of 1.001.201.401.601.802.002.200$price of S by UKD by USAQ of 1.001.201.401.6
13、01.802.002.200$price of S by UKD by USAQ of 1.001.201.401.601.802.002.200ba$price of S by UKD by USAQ of 1.001.201.401.601.802.002.200cd1.752.002.252.502.753.000DM/S1D1Q of 1.752.002.252.502.753.000DM/Q of S1D11.752.002.252.502.753.000DM/Q of S1D1S2D21.752.002.252.502.753.000DM/Q of S1D1S2D2OExchang
14、e rateQuantity of sSElastic demandfor importsOExchange rateQuantity of sSInelastic demandfor importsOExchange rateQuantity of sSDrOExchange rateQuantity of sSDrOExchange rateQuantity of sS1D1er1OExchange rateQuantity of ser2S2D2S1D1er1OExchange rateQuantity of sS3D3er3er2S2D2S1D1er1OExchange rateQua
15、ntity of sS1D1er1OExchange rateQuantity of sS2D2er2S1D1er1OExchange rateQuantity of sS2D2er2er3S3D3S1D1er1$1.00$1.20$1.40$1.60$1.80$2.00$2.20$2.4019761978198019821984198619881990199219941996708090100110120130140150$/Index1990=100$1.00$1.20$1.40$1.60$1.80$2.00$2.20$2.4019761978198019821984198619881990199219941996708090100110120130140150$/Index1990=100
