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4.1.7 Balance of payments

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Question 4

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

Figure 3: Australia's net monthly balance of trade in goods and services, January 2019 to January 2023

Australia's net monthly balance of trade in goods and services, January 2019 to January 2023

YearNet Balance (AUD billions)
Jan 2019+4.5
Jan 2020+5.8
Jan 2021+9.1
Jan 2022+11.5
Jan 2023+12.4
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4.1.7 Balance of payments Questions

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