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International trade

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Question 4

Using Table 1, calculate the change in Ghana's terms of trade between 2020 and 2021.

Table 1 – Ghana's trade indicators and current account position, 2018–22

YearIndex of export pricesIndex of import pricesIndex of export volumesIndex of import volumesBalance on the current account of the balance of payments as % of GDP
2018959710198–2.4
2019100100105103–1.9
2020106102102101–3.2
2021114111108107–2.8
2022112115106110–4.1
[2]

International trade Questions

  1. A Level
  2. /Economics
  3. /International trade