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Balance of payments

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Question 12

Table 1 – Mexico'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
2019105102104102–1.1
20201091039895+0.5
2021114106103101+1.2
2022116108107106+0.8

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

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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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