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Balance of payments

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Question 11

Table 1 – Peru's export prices, import prices, export volumes, import volumes and current account position, 2018–22

YearIndex of export prices (2018 = 100)Index of import prices (2018 = 100)Index of export volumesIndex of import volumesBalance on the current account of the balance of payments as % of GDP
2018100100100100–1.5
2019103101102101–1.1
2020108104105103–0.8
2021112106109107+0.2
2022115107112110+1.4

Using Table 1: Explain what happened to Peru's terms of trade over the whole period shown.

[2]
Markscheme

Balance of payments Questions

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

38 exam-style questions on OCR A Level Economics Balance of payments. Each one has a worked solution and a mark scheme showing where the marks go.

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