US Balance of paymentsIn this assignment, we would like you to gather information about the US Balance of payments, with a focus on the current account, for the years 2000 – 2019.You will replicate the table below, except report the data for each year for the 2000-2019 period.You will gather the data from the US Bureau of Economic Analysis, which is an unbelievably awesome source of detailed economic data for the US. For this project, start here: https://www.bea.gov/data/intl-trade-investment/international-transactions (Links to an external site.).You’ll then scroll down and choose:–> Interactive Data–> Interactive Tables: International Transactions–> International Transactions (ITA)–> Table 1.1Once you get to Table 1.1, you’ll need to specify “Annual” data and choose the correct years (2000-2019). Click the MODIFY icon to make your changes. For the “Lines” section, you can choose All Lines or Current Account – either will get you the information you need.Once you’ve selected the correct data, use the Download button to download to Excel. Note that the table refers to transfer payments as “secondary income.”Set up a beautiful table like the one below, and fill in the data you have collected.Once you have completed your table, write a short paragraph describing what the data tells you. How has the current account evolved over the study period? Why is this important and what conclusions can you draw?Upload a PDF of your finished table and paragraph.
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