O-LevelEconomicsInternational trade and globalisation2281/12 · May/June 2017 · Q301 Mark
In 2010, Vietnam experienced a deficit in the value of its trade in goods (visible) despite exporting a greater number of goods than it imported. What could explain this?
AThe average price of its goods imported exceeded the average price of its goods exported.
BThe average value of its goods exported exceeded the average value of its goods imported.
CThe country had a deficit on its trade in services.
DThe country's government imposed tariffs on imports.
✓ Correct answer
A: The average price of its goods imported exceeded the average price of its goods exported.
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