Economics (AS & A Level) · Oct / Nov 2022 · Paper 11 · Question 23

The table shows information from the current account of the balance of payments for Canada and Singapore in 2019. | | Canada (US$ million) | Singapore (US$ million) | |---|---|---| | exports of goods | 448 360 | 440 800 | | imports of goods | 462 105 | 342 805 | | exports of services | 100 350 | 204 810 | | imports of services | 115 270 | 119 050 | | primary income balance | –3 475 | –34 340 | | secondary income balance | –2 060 | –6 280 | What can be concluded from the table?

1. ACanada exported more goods than Singapore.
2. BCanada and Singapore had current account deficits.
3. CSingapore had a surplus on its trade in goods and services.
4. DSingapore imported cheaper goods than Canada.

As printed in the paper