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4.1.7 Balance of payments

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Question 2

Explain one likely reason for Canada's balance of trade in goods and services over the period shown. Refer to the table and chart below in your answer.

Figure 3: Canada's net monthly balance of trade in goods and services, January 2018 to January 2022

Line chart showing Canada's monthly balance of trade in goods and services, by value, from January 2018 to January 2022. The Y-axis represents the balance in billions of Canadian Dollars (CAD billions), ranging from -5 to +1. The X-axis represents the years from 2018 to 2022. The chart shows a volatile line that remains consistently below the zero line, indicating a persistent trade deficit throughout the period.

YearNet Balance (CAD billions)
Jan 2018-2.3
Jan 2019-1.8
Jan 2020-1.5
Jan 2021-1.0
Jan 2022-2.5
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4.1.7 Balance of payments Questions

  1. A Level
  2. /Economics
  3. /4.1.7 Balance of payments