Balance Of Payments

ANALYSIS OF DATA A Balance of backing is the inequality mingled with the value of tradeed goods and the value of tradeed goods.It is the relationship between a peoples imports and exports.A positive brace is known as a trade surplus, that is if exports atomic number 18 great than imports.A detrimental balance is known as a trade dearth, if it consists of merchandise more(prenominal) than exporting. The economy of St .Lucia is highly dependent on foreign trade, with touristry as its major export earner. Other exports include bananas, cocoa, vegetables, fruits and coconut meat tree oil. St.Lucia has recorded relatively low levels of imports. St.Lucias principal(prenominal) import consists of machinery, transport equipment and manufactured goods. Currently, France is the islands main export employment partner, with bananas accounting for 41% St.Lucias main export partners ar France, US, China, Brazil and UK. Whereas, St.Lucias main import partners are US, Trinidad and Tobago, Italy, France , Finland, Venezuela, UK and Netherlands. St.Lucia is before long importing over half the sum total more than it is exporting. In figure 2, it throw out be recognised that St.Lucia is recording a Balance of Trade deficit for the period under investigation. within the last 9 years total exports were $2,230,076,261.00 and the total imports were $4,048,071,439.33.

In figures 1 and 3, it is evident that St.Lucia suffered an admonishing basis of trade from the years 2000-2007, which means that import prices were greater than export prices during these years. Whereas, in the following two years 2008 and 2009 thit her was a favourable terms of trade in the S! t.Lucian economy. St.Lucia has had a negative Balance of Trade every year since independence. This yearbook deficit has been counterbalanced in part by inflows from tourism and direct investment. In 2009, it can be seen that the figure $834,955,523.00 was large due to high levels of work being exported e.g tourism. The US fundamental Intelligence Agency (CIA) reports that in 2000, St.Lucias...If you want to get a full essay, order it on our website: BestEssayCheap.com

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