| Year | Balance (£ billions) |
|---|---|
| 1999 | -25 |
| 2000 | -29 |
| 2001 | -22 |
| 2002 | -31 |
| 2003 | -39 |
| 2004 | -45 |
| 2005 | -49 |
| 2006 | -58 |
| 2007 | -65 |
| 2008 | -62 |
| 2009 | -50 |
| 2010 | -55 |
| 2011 | -42 |
| 2012 | -61 |
| 2013 | -78 |
| 2014 | -85 |
| 2015 | -93 |
| 2016 | -102 |
| 2017 | -80 |
| 2018 | -85 |
| 2019 | -89 |
| 2020 | -74 |
Using the data above, which one of the following may be inferred about the United Kingdom's balance of payments?
The current account deficit continuously decreased between 2012 and 2016.
The current account surplus increased between 2005 and 2010.
There was a current account surplus for the entire period shown.
There was a current account deficit for the entire period shown.
103 exam-style questions on Edexcel A A Level Economics 4.1 International economics, covering 4.1.1 Globalisation, 4.1.2 Specialisation and trade, 4.1.3 Pattern of trade, 4.1.4 Terms of trade, 4.1.5 Trading blocs and the World Trade Organisation (WTO), 4.1.6 Restrictions on free trade, 4.1.7 Balance of payments, 4.1.8 Exchange rates, and 4.1.9 International competitiveness. Each one has a worked solution and a mark scheme showing where the marks go.