The global context

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Question 14

Fig. 1 – Norway's trade balance and exchange rate, 2020–23

Year	Trade in goods surplus ($bn)	Exchange rate (NOK per US$)
2020	12.5	~9.4
2021	54.8	~8.6
2022	98.2	~9.6
2023	62.4	~10.6

Using Fig. 1: Explain what effect the change in Norway's trade in goods surplus between 2020 and 2021 would have been expected to have had on the country's exchange rate.

[2]

The global context

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Question 14

Fig. 1 – Norway's trade balance and exchange rate, 2020–23

Year	Trade in goods surplus ($bn)	Exchange rate (NOK per US$)
2020	12.5	~9.4
2021	54.8	~8.6
2022	98.2	~9.6
2023	62.4	~10.6

Using Fig. 1: Explain what effect the change in Norway's trade in goods surplus between 2020 and 2021 would have been expected to have had on the country's exchange rate.

[2]

The global context

Question 14

Fig. 1 – Norway's trade balance and exchange rate, 2020–23

The global context Questions

The global context

Question 14

Fig. 1 – Norway's trade balance and exchange rate, 2020–23

The global context Questions