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Nice People 13: Nice Save
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My son sent me this question:
How can the world import more than it exports?!
Do any NPs have any ideas? I said that I wanted to see the full source.
Are imports valued higher? When I complete export documentation I put the value I get from the stock, if the importer is putting the value he gets for the stock then that will be higher?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
My son sent me this question:
How can the world import more than it exports?!
Do any NPs have any ideas? I said that I wanted to see the full source.
I suppose if the WTO were to collect all the data in local currencies then when it translated it into $ it would have to make some assumptions on what rate to use which might cause an imbalance?0 -
lostinrates wrote: »Maybe surprising amounts go missing at sea , are misappropriated in transit or subject to piracy or customs or something? :undecided.
There's surprisingly little about this online (that I could find, anyway), and what there is seems terribly waffly.
I suspect, as PN says, it's all rather mundane differences in accounting policy. Perhaps countries deliberately flatter their exports and downgrade their imports?
There must be some wastage in goods in transit, for example, not just piracy but simply stuff rotting. That could account for a couple of % of world trade, I guess. The cost of freight and insurance could be a factor.No reliance should be placed on the above! Absolutely none, do you hear?0 -
I'm following instructions to keep laying down when I feel tired , and t RP has left a door open, some where and I have a little canine friend jumped into bed with me.
Edit......he's gone now, but it was nice. He'd stay all night were he allowed, and he is still and warm and presses firmly but gently against you. I like that he comes to find me.0 -
Thing on dementia on right now on Inside Out (North West). The North West one will be on Iplayer later. Just for any NP's who have interest in dementia0
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Oops, sorry, i'm female, I quite forgot to say :rotfl:
I thought you were.
Had a disturbing conversation with Mum yesterday evening.
She and Dad had just got back from 48 hours in Poland for a wedding. Dad had another 'episode' while they were there - just blanked out while eating a meal. It's like fainting without the dizziness or actually falling over.
Very similar to the episode he had in France a few months ago; on both occasions they'd had a long, stressful day of travelling.
Luckily, it was over within a few minutes so they didn't seek medical attention this time. (It lasted for quite a bit longer in France, and he got checked out with ECGs etc at the local hospital immediately on that occasion - given the all clear).
He's going to the GPs today if he can get an appointment and I'm sure they'll start some more tests as they said they would if it recurred. I don't really think it's a TIA as there are no symptoms of that (no pain, numbness, one-sided issues etc). But it's still worrying as there don't appear to be warning signs.
There's nothing I can do at 200 miles' distance other than hope and pray that a) it never happens in a situation where danger could result, b) they diagnose it quickly, and c) it won't cause too many restrictions on their lives.
Mum says his incredible astute mental facilities seem to be slowing a bit, but that may be completely unrelated.
Oh, it's hard when your parents start getting older and you've nobody to give you a hug about it.
Petit mal epilepsy? Narcolepsy? Whatever it is, here's a hug:
There must be some wastage in goods in transit, for example, not just piracy but simply stuff rotting. That could account for a couple of % of world trade, I guess. The cost of freight and insurance could be a factor.
Wastage of goods in transit would make the exports higher than the imports. so that can't be it.
I think it's the cost of freight and insurance. Exports are presumably calculated from the value of the goods in the country of origin (ie without the freight costs) and imports are calculated from the value of the goods in the country where they end up (including the freight costs).Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.0 -
Umm, Lydia, look again! The exports are higher than imports. No reliance should be placed on the above! Absolutely none, do you hear?0
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My son sent me this question:
Do any NPs have any ideas? I said that I wanted to see the full source.
I think it's the exports to Mars.....
The Economist ran an article titled almost exactly that a few years ago
Seriously though, it's a fairly well known statistical quirk that is probably caused by overstating or understating exports/imports.
I'll see if I can find the article.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
Here it is....
http://www.economist.com/node/21538100ECONOMISTS are constantly urging governments to adopt policies that would reduce global imbalances—which, in crude terms, means that China should slash its current-account surplus and America its deficit.
Yet they ignore the biggest imbalance of all: the current-account surplus that planet Earth appears to run with extraterrestrials.
In theory, countries' current-account balances should all sum to zero because one country's export is another's import. However, if you add up all countries' reported current-account transactions (exports minus imports of goods and services, net investment income, workers' remittances and other transfers), the world exported $331 billion more than it imported in 2010, according to the IMF's World Economic Outlook. The fund forecasts that the global current-account surplus will rise to almost $700 billion by 2014.
Are aliens buying Louis Vuitton handbags? Are little green men bagging the best sunbeds by the hotel pool?
The more down-to-earth explanation is that the global surplus reflects statistical errors. Either the current-account deficits of countries such as America are being understated or the surpluses of countries like China are being overstated, and by a rising amount.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »I think it's the exports to Mars.....
The Economist ran an article titled almost exactly that a few years ago
Seriously though, it's a fairly well known statistical quirk that is probably caused by overstating exports or understating imports.
I'll see if I can find the article.
Oh you party pooper.
I mean, hurrah, the answer, but.....it was quite good fun too, no?
( I still like my piracy idea)0
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