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Balance of payments

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Question 16

Table 1 – South Africa's export prices, import prices, export volumes, import volumes and current account position, 2016–20

YearIndex of export prices (2016 = 100)Index of import prices (2016 = 100)Index of export volumesIndex of import volumesBalance on the current account of the balance of payments as % of GDP
2016100100100100–1.2
2017104101105103–2.5
2018106105108106–3.1
2019105110111112–4.0
2020103112114115–2.8

Using Table 1: Explain what happened to South Africa'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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