Veyra's current account balances for last year are shown below.
| Component | Balance last year |
|---|---|
| Trade in goods | -£41 billion |
| Trade in services | +£19 billion |
| Net primary income | -£4 billion |
| Net secondary income | +£3 billion |
This year, payments by Veyra's residents for holidays abroad are £8 billion lower than last year. All other flows are the same as last year.
What is Veyra's current account balance this year?
A £14 billion deficit
A £15 billion deficit
A £18 billion deficit
A £31 billion deficit
52 exam-style questions on OCR GCSE Economics 4.2 Balance of payments, covering 4.2.1 Balance of payments on current account, 4.2.2 Balanced account, surplus and deficit, 4.2.3 Calculate deficits and surpluses, 4.2.4 Analyse exports and imports data, 4.2.5 Importance of the balance of payments, and 4.2.6 Causes of surpluses and deficits. Each one has a worked solution and a mark scheme showing where the marks go.