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Edexcel A-Level Economics AS 2.3.1 4b Distinction Between Deficits and Surpluses in the Trade in Goods and Services Balance Questions

Practise Edexcel IAL Economics 2.3.1.1x by defining trade deficits and surpluses, calculating exports minus imports and interpreting trends.

Syllabus
First assessment 2019
Course
Economics YEC11
Level
AS

Exam points

  • define a balance of trade deficit as imports exceeding exports and a surplus as exports exceeding imports
  • calculate the balance of trade as exports minus imports and calculate changes between periods
  • interpret balance-of-trade charts and tables to identify surplus or deficit trends

Edexcel A-Level Economics AS 2.3.1 4b Distinction Between Deficits and Surpluses in the Trade in Goods and Services Balance Questions question 1

[Maximum number: 4]

The table shows the value of exports and imports of goods and services, $ billion, for Thailand in 2020 and 2021.

Table for Question Edexcel A-Level Economics AS 2.3.1 4b Distinction Between Deficits and Surpluses in the Trade in Goods and Services Balance Questions question 1 — Edexcel A-Level Economics AS

Calculate the change in Thailand's balance of trade between 2020 and 2021. Show your workings.

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