Question 1 Report
Table 1 shows trade in goods for the economy of Seabourne in 2022.
| Value ($ million) | |
|---|---|
| Exports of goods | 720 |
| Imports of goods | 910 |
(a) Which trade balance did Seabourne have in goods? [1]
(b) Show the size of this balance. [1]
(a) Seabourne had a trade deficit in goods because the value of its imports was greater than the value of its exports. [1]
(b) The size of the deficit is:
\[\$910\text{ million}-\$720\text{ million}=\$190\text{ million}\]
Seabourne had a \(\$190\) million trade deficit. [1]
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