(a)
From Table 1.1:
- Identify the general movement in Sri Lanka’s balance of trade in goods and services from January 2022 to January 2023. [1]
- Calculate the percentage change in Sri Lanka’s balance of trade in goods and services between January 2022 and January 2023. [1]
(b)[2]
Explain what is meant by ‘Sri Lanka has enjoyed a comparative advantage in growing and exporting tea.’.
(c)[4]
Consider the extent to which depreciation of the Sri Lankan rupee could improve the country’s balance of trade in goods and services.
(d)[6]
Assess whether the removal of all protectionism is likely to reduce the balance of trade deficit.
(e)[6]
Assess the extent to which supply-side policies will be able to ‘lead Sri Lanka back into economic growth’.