| Month | Exports (%) | Imports (%) |
|---|---|---|
| Aug-22 | 8.0 | 9.5 |
| Sep-22 | 6.5 | 7.0 |
| Oct-22 | 5.5 | 3.0 |
| Nov-22 | 4.0 | 5.0 |
| Dec-22 | 3.0 | 4.5 |
| Jan-23 | 2.0 | 0.5 |
| Feb-23 | 1.0 | -1.5 |
| Mar-23 | -0.5 | -0.5 |
| Apr-23 | -2.0 | -1.0 |
| May-23 | -3.0 | -3.0 |
| Jun-23 | -3.5 | -5.0 |
| Jul-23 | -2.5 | -1.0 |
| Aug-23 | -1.5 | 2.0 |
| Sep-23 | 0.5 | 1.5 |
| Oct-23 | 2.5 | 1.0 |
With reference to the table above, which one of the following statements is correct?
In the year to October 2022, the New Zealand trade balance worsened
In the year to April 2023, the New Zealand trade balance improved
In the year to August 2023, the New Zealand trade balance improved
In the year to June 2023, the New Zealand trade balance improved
11 exam-style questions on Edexcel A A Level Economics 4.1.7 Balance of payments. Each one has a worked solution and a mark scheme showing where the marks go.