Re: [OPE-L] [Jurriaan] Notes on gold

From: Paul Bullock (paulbullock@EBMS-LTD.CO.UK)
Date: Mon Nov 07 2005 - 16:39:20 EST


it is usually accepted that the world stats on imports and exports never
equate... the famous gap... not only due to known  failure to report by
convenience flags (shipping ) states.. but obviously a mass of illegal
transactions ( US and European imports of illegal drugs for a start) which
allow for imports without recorded exports. ( or money out with no source of
money in, on a global scale) From your previous notes I couldn't work out
the answer either..


----- Original Message -----
From: "Jerry Levy" <Gerald_A_Levy@MSN.COM>
Sent: Thursday, October 20, 2005 1:13 AM
Subject: Re: [OPE-L] [Jurriaan] Notes on gold

> ----- Original Message -----
> From: "Jurriaan Bendien" <>
> Sent: Wednesday, October 19, 2005 12:03 PM
> Subject: Re: [OPE-L] [Jurriaan] Notes on gold
> > Jerry, you fig for UK tangibles seems odd... there is a permenent BoT
> > deficit here in UK ...this doesn't fit .
> >
> > Paul Bullock
>  You are correct, at least prima facie this percentage seems a bit odd. I
>  not know how the World Bank calculated imports and exports of goods, but
>  note that the percentages concern the share of the UK in world imports
>  exports expressed in a standard currency. Theoretically, the value of
>  exports should be equal to the value of world imports, but whether this
>  statistically the case, I do not know offhand; there is another issue
>  in terms of timing of transactions for recording purposes. Typically in
>  UK, the balance of trade for goods is negative (a deficit), and the
>  of trade for services is positive (a surplus), but the total trade
>  is slightly negative, i.e. the negative balance on goods outweighs the
>  positive balance on services. The trade balance is of course not the same
> as
>  the balance of payments. It is also possible, that I made a mistake in
>  calculating the percentage, but I had some difficulty in finding the data
>  set back again that I used, so to my regret I cannot definitely say just
> now
>  what the cause is.
>  Regards
>  Jurriaan

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